Gold dropped to support at 1770.62. This is the strong line of August 2020. The only major breakdown occurred in December. After that, the line became a price support. Since December, the price has been moving in the following stages: Collapse to support, correction, return to support. After another collapse, the price touched the 1770.62 support. I expect the beginning of growth. Target - 1827.99
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Support looks like a pretty strong friend. And I understand your point of view, but still I am inclined to continue the fall. Apart from the graph, I am reassured by the relatively positive economic news this week. Gold has no reason to rise sharply. but it's certainly crazy.
DeGRAM
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@TradingStat, Thanks for sharing your thoughts bro.
We will monitor the market.
Solldy
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December 16 was an important moment of price and line! I replaced that after the line was broken, the price did not return down any more! Is that why you pointed the arrow DOWN?