DeGRAM

DeGRAM | GOLD second touch of resistance and fall

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
After rising from the support level 1685.17 the price:
- broke through the support of August 2020 - 1713.61
- broke through the support for july 2020 1742.67.
- came to resistance 1800.97.
Since the end of April, the price has been moving along it.
I expect the price to make a second touch of the resistance at 1786.88.
And then it will fall to the support.
Reasons for the fall:
- strong trend line resistance August 2020
- the first touch of the line at 1800.97
- the beginning of the fall but consolidation towards the line (can be regarded as a good consolidation).
The target is 1719.24.

--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!

🚀TOP 1 broker🚀
bit.ly/3spSQqC
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
🔻Contact for Paid SIGNALS🔻
t.me/DeGRAMForex
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.