Gold Spot / U.S. Dollar
Long

Gold can break resistance level and continue to move up

488
Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price some days ago entered to range, where some time traded and then rose to the top part of this pattern, but at once turned around and made a correction movement. After this movement, the price rebounded and in a short time rose to the resistance level, which coincided with the seller zone, thereby exiting from the range and even later breaking the 2380 level. But at once Gold turned around and made impulse down to the buyer zone, which coincided with the support level. Then the price turned around and started to grow to 2367 points, after which it turned around and quickly declined back to the buyer zone. Also, the price started to trades inside the wedge, where it rebounded from the support line, which is located in the buyer zone, and in a short time rose to the resistance level. Gold made a fake breakout of this level and recently fell below the 2380 level, breaking it again. Then it fell to the support line of the wedge and started to grow, so, in my opinion, the price can make little correction and then reach the resistance level and break it. After this movement, Gold will continue to grow to the resistance line of the wedge. For this reason, I set my TP at 2380 points. Please share this idea with your friends and click Boost 🚀

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