FirstNameHelen

HelenP. I Gold will little more fall and then rebound up

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hi folks today I'm prepared for you Gold analytics. If we look at the chart we can see how the price some days ago rebounded from support 2, which coincided with the support zone and started to rise to the trend line. After this, the price turned around and started to decline in a downward channel, where it in a short time declined to support 2 and even lower, thereby breaking this level. But, after some time trading below support 2, the price turned around and made a strong impulse up to support 1, thereby breaking support 2 with the trend line and exiting from the downward channel. As well then, Gold rose higher than support 1, but later it turned around and made an impulse down to the trend line, breaking this level one more time. Then price rebounded from the trend line and soon rose back to support 1, and even recently it entered to one more support zone, but soon fell back and now it trades below support 1. That's why I think that Gold will little more fall and then turn around and rise higher than support 1, breaking it again. For this reason, I set my target at the 2205 level. If you like my analytics you may support me with your like/comment ❤️

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