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DeGRAM
Nov 24, 2020 7:32 AM

GOLD near the strong support \ Grow Long

Gold / U.S. DollarFOREX.com

Description

Gold first came to a strong support zone and bounced off it.

Then it began to grow (we opened a purchase)

But in the end, having almost reached the resistance zone, it fell and broke through the resistance line.

Now gold is not far from a strong support area and I am sure it will reach it.
This area (triangle on the chart) is formed by the intersection of two support + level lines at once.
These are long strong lines, one of them formed in 2019, the second in 2018.

Gold may break the support line closest to it, but I am sure it will stop at - 1791.21, after which it will push off and begin to rise.
The zone is strong, so I expect strong growth. The target is the resistance line 1861.46.
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Comments
Lingrid
grat! thanks
DeGRAM
@Lingrid, Welcome
TradingAlchemist
can i sell?
DeGRAM
Jaypipin
Bearish astro until late thursday, then bullish until end of friday, not sure about weekend and early next week just yet will update later. Likely will see 1784 area then a bounce. How high is the unknown. Still think the event has not happened so with that said it will be much more than 100 usd, more like 200. (probably the outcome of US election is what will cause panic and send volumes to USD) Could see 1640 by jan. (not my thinking this is astrology trading view)
DeGRAM
@Jaypipin, Thank you for your words
Solldy
Why should the price push off exactly from the level?
DeGRAM
@Solldy, The level is stronger than the support line.
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