Yesterday the price of gold came to the resistance line 1734.61 and reversed in the fall. Therefore, I am forced to adjust my previous forecast. I also expect that the price will continue to rise, but before that it should work out corrections to the support zone.
Let me remind you that the price is in a long falling channel that formed in August 2020. In the middle of this channel, a resistance line has formed - also in August. The price often made corrections from this line, as it happened this time. Therefore, now I expect that the price will go down from the resistance line to the support line 1681.63 before starting the growth. This will be our goal.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻