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DeGRAM | GOLD second touch of resistance and fall

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
After rising from the support level 1685.17 the price:
- broke through the support of August 2020 - 1713.61
- broke through the support for July 2020 1742.67.
- came to resistance 1800.97.
Since the end of April, the price has been moving along it.
I expect the price to make a second touch of the resistance at 1786.88.
And then it will fall to the support.
Reasons for the fall:
- strong trend line resistance August 2020
- the first touch of the line at 1800.97
- the beginning of the fall but consolidation towards the line (can be regarded as a good consolidation).
The target is 1719.24.

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Comments

The World Gold Council (WGC) has published the latest data on the state of the official gold reserves of the Central Banks around the world.
By the way, most of the published data was obtained as of the end of March 2021.
Very interesting material, you can read it.
+9 Reply
At the end of last week, I also expected the price to fall, but it rose again, albeit by a small amount. What do you think could be the reason for such a slow rise in prices? Now I will also wait for the fall, it must happen sooner or later.
+4 Reply
The channel starts in January 2020! During this period, you can see how the price listens to the line and repels from it! I think the price will go up! If there is a false breakout, it will definitely leave your SL intact!
+3 Reply
learned main news of next quarterly report world gold council.volume of demand for investment coins was record, reaching 95.7 tons.
+3 Reply
I just short it now.
+1 Reply
@ImranRFx, he says, short position should be taken from 1790 but now the price is still on 1779!!
Reply
ImranRFx fatemeh_asp1984
@fatemeh_asp1984, Because I took my trend some minutes before that post with the basis of my analysis. So I'm not for that post already but telling him. Thank you. Mine is 4h SL above the termination zone.
Reply
@ImranRFx, ok thank you for your reply
Reply
ImranRFx fatemeh_asp1984
@fatemeh_asp1984, you are welcome
Reply
DeGRAM fatemeh_asp1984
@fatemeh_asp1984, The price is in this position, but I expect a fall.
Reply
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