LegionQ8

Gold can continue to grow inside upward channel

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price some days ago broke the 1900 support level, which coincided with the buyer zone and declined to 1815 points. But then, the price made a reversal and started to move up. After this, Gold in a short time reached the 1900 level, broke it again, and even later reached the current support level, which coincided with the support area. Next, the price bounced from this level and made a little correction, and then Gold continued to move up in an upward channel. In the channel, the price reached the current support level, but at this moment, XAU broke it and rose to the resistance line of the channel. But some time ago price rebounded from the resistance line and fell to the support area, where Gold continues to trades now near the support line of the channel. Possibly, the price can rebound from the support line to the resistance line of the channel, therefore I set my target at the 2115 level. Please share this idea with your friends and click Boost 🚀

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