Gold bounced off the 1726.19 support line and returned to the 1750.36 support line. This is a hopeful growth after the massive collapse that happened last week. The price bounced off a strong support line formed in June 2016.
From this line, I expect the price to rise to the resistance zone. The price will first fix on the line in the area of 1745.68, after which it will break through the level of 1800.37 and rise to the resistance line of 1812.72. From this point it will be possible to start a sell deal. Because from there the price will reverse and fall again into the support zone 1732.43. This will be our goal.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Anyway you talk about the rise of gold but when? 😂 I know every time you say gold falls 😅😅😅
chargers5703
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@Iranforex2020, 4 trades in a row she called a buy lol
i usally do the opposite of what she calls
financialflagship
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Nice analysis! Long term we are bullish, but we must see how the structure develops!
Lingrid
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@financialflagship, thank you for sharing your thoughts)
i really appreciate it 🙌
TK_71
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It didn’t t make it to your resistance line before it collapsed again.
Lingrid
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@TK_71, do not draw conclusions so early
today there will be an updated idea, do not miss it
Solldy
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As we can see, the strong support line helped the price push upwards! I think the price will go in your direction! And to sell only from the resistance line?
Lingrid
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@Solldy, yep! i specifically pointed out that the sell is only from the resistance line!
do not miss this important moment)
TradingAlchemist
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world gold price has been in downtrend since beginning of 2021. in this regard, some analysts have changed their forecast for gold for current year. in their opinion, yellow precious metal will continue be under pressure.
Lingrid
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@TradingAlchemist, the pressure is palpable, this week will cause gold to fall
just do not forget about the stop loss😉