OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold is falling inside the Downward channel . We see the strong support line that gave the rise to the bounce of the price together with the swing of the ROC . Moreover , the Aroon suggest that price can take the reverse trend and rise up to the 1891.326 and likely to the 1911.041 lvl.

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Comments

Solid view, buddy!
What do you think about my analysis?
+3 Reply
MasterThePippage VasilyPonomarev
@VasilyPonomarev ๐Ÿ’ฏ๐Ÿ’ฆ
+1 Reply
silentfrankie VasilyPonomarev
@VasilyPonomarev, It is a descending triangle but also in a consolidation phase. Descending triangle usually means bearish. However, gold is in uptrend in overall picture. In this case, it can break out of descending triangle to the upside. Let's see where it goes next week. Everyone is expecting gold to pull back to that next support level. I hope so too to pick up more gold.
Reply
Great work man!
Reply
wow, nice, decending triangle, elliot wave
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agree
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good job bro ๐Ÿ‘
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I hope sooooi much!!!
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