WalterMoon

GOLD - Price can continue to decline inside falling channel

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 made upward impulse to resistance level, which coincided with resistance zone, but soon bounced down.

After this, Gold rose higher resistance level and then started to decline in falling channel.

In channel, price declined below $2070, breaking it again and even making fake breakout of this level, after which continued to fall.

Gold fell to support level, which is located in support zone, and at once bounced up to resistance line of channel.

Then XAU bounced from this line to support line, and a not long time ago price bounced back and now trades in support area.

Possibly, Gold can rise higher than $2030 level and then continue to decline to $2000 inside falling channel.

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