We continue to observe the formation of a fall in the price of gold. Let me remind you that yesterday we expected that the gold will reverse from the resistance line 1751.13 and begin to fall. And so it happened.
The fall began for several reasons. Firstly, this resistance line is very strong - it has existed since August a year has passed and, despite the breakdown that occurred in December-February, it often reversed the price. Secondly, this time the price is well entrenched on the line - at least two touches can be observed.
Now I expect that, having fixed on the line, the price will continue to fall and, as a result, will come to the support line. Thus, my final target is the support line 1653.98.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Thanks, I also support the idea of a fall in the price of gold to support.
My target is 1682.
The area of the last fall passes in this area. Do you think the price will break it?
UnknownUnicorn15614419
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Unfortunately, I cannot agree that the price will fall this time. I also consider the movement taking into account the trend of August last year, but it seems to me that the current pause is a movement in the correction zone. What do you think?
TradingAlchemist
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restoration of global economy and effective distribution of vaccines by world countries will have serious pressure on gold. friend is it true, in the 4th quarter 2021, one ounce of xauusd will cost $1675?
olaleksy7
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Currently Disagree, Gold is consolidating and will rocket up soon
Lingrid
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@olaleksy7, time will tell
today I will update the idea, so don't miss
Crossing the resistance line and the resistance level pushed the price off well! I thought that there might be a return to the level for a better fall, but I realized that the previous push helped the price follow your arrow so well!
My target is 1682.
The area of the last fall passes in this area. Do you think the price will break it?