WalterMoon

GOLD - Price can exit from wedge and decline to $2025 level

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊

Recently price bounced from $1985 support level, which coincided with support area, and started to trades inside rising channel.

In a short time, Gold reached resistance line of channel, exiting from it, and then rose higher than $2085 resistance level.

Next, price entered to wedge, where it bounced from resistance line and made strong downward impulse to support line.

Thereby price made a fake breakout of $2085 level, but later Gold bounced from support line and rose back to this level.

A not long time ago price fell from this level to support line again and now XAU trades near this line.

Possibly, Gold can make a little movement up and then bounce down to $2025, exiting from wedge.

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