LegionQ8

Gold can little grow and then start fall to 2005 level in range

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Hello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some days ago made a strong upward impulse from the buyer zone to the seller zone, breaking 2005 and 2085 levels. But soon, the price turned around and in a short time declined back, breaking these levels again. Next, the price turned around and bounced up higher than the 2005 support level, thereby breaking it and entering to range. Inside range Gold rose to seller zone one more time, where it soon turned around and declined back to range. In a short time later XAU declined to the 2005 level, after which it rebounded and started to move up. After the price rose to 2060 points, it rolled a little down, where it continues to trade to this day. So, I think that Gold can make little movement up, after which it turns around and starts to decline to the 2005 support level, which coincides with the bottom part of the range. So, that's why I set my target at this level. Please share this idea with your friends and click Boost 🚀

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