Lingrid

GOLD continue GROWTH after pause in SUPPORT zone

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold, like the previous pair, is stuck in the zone, only in this case - the support zone at the intersection of the strong level and the support line from October 2020. The price is now at the point 1793.35. Let me remind you that it came to these positions in the course of a long downtrend that began in August last year.

In early February, the price broke through the support level for the first time and then repeated this attempt several more times. However, each time the decline was stopped due to the support of the merging trend lines from August. So even now, despite the fact that the price has been in the support zone for several days, I expect it to grow. So my final target is the resistance zone 1832.14.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

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