LegionQ8

Gold can break support level and continue to fall

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Hello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price some days ago price started to trades in an upward channel, where it first broke the 1935 support level, which now coincided with the buyer zone. Then price rose a little more and soon corrected to support line of the channel, and then Gold rebounded and made a strong upward impulse to the current support level, which coincided with the seller zone. After this, the price firstly a little fell and then rose higher than the current support level with the resistance line of the channel, but in a short time Gold declined back, making a fake breakout. Price fell to the support line of the channel and then rebounded up higher than the current support level and now Gold trades in seller zone. I think the price can break this level and then make a retest. After this Gold will continue to decline to support line, where is located my target - 1995. Please share this idea with your friends and click Boost 🚀
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