Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price a not long time ago traded in the buyer zone, which coincided with the 2040 support level, and soon broke this level, after which it made a retest. Then price turned around and started to rise in an upward channel, where it in a short time reached the resistance line of the channel, and then made little correction, after which the price continued to move up to the current support level, which coincided with the support area. When Gold reached this level, the price broke it and later exited from the channel, but at once started to trades in a range, where XAU rose to the top part. After this movement, Gold turned around and declined to the 2150 level, but soon it rebounded and tried to back up, and failed. So, at the moment, Gold continues to trades near the current support level in the range, for this reason, I think the price can decline to the support area, where it will turn around and start to grow to the top part of the range, making a fake breakout of 2150 level. Therefore I set my target at 2185 points. Please share this idea with your friends and click Boost 🚀
I like your view. I even think about taking short around 2185
linofx1
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Anticipating a bullish rebound from the support of the range
samstoobad
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actually gold is in a flag formation. we are currently consolidating from 2170 area to 2150 area. long term gold is still bullish. 2153 to 2150 support still looks very strong we should see a bounce off this and up. if we can break 2174 and stabize above it will can possibly see a higher all time high.
take a look at March 3rd bitcoin had the same pattern before all time highs.