Lingrid

GOLD new GROW after price collaps

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
In the first week of November, the price collapsed a lot. At that time, the fall stopped only due to the support line. Having pushed off from which the price went up.

But after it came to a strong resistance zone - in the area of ​​two lines passing very close to each other - the price began to fall again.

And just yesterday there was another collapse - this time smaller in volume.
However, it is already clear that the fall did not stop at the support line.
This support line began to form in August 2020.


The only touch of the line by the price led to the fact that the price reversed in the trend and began to grow. Which gives reason to expect growth now.
Moreover, such a strong fall simply cannot last long.
Therefore, I expect the price to rise to the resistance zone: the crossing of the level and the resistance line at 1850.15

Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩‍💻

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