As we see the Precious Metal fall about 125$ last week from 1965 zone and now we face a Support zone on 1920-1925 zone above the 200MA line.
We can see clearly on chart that however we are back in our Down Trend Channel but the Daily candle is not Fully Closed Below the Ichimoku Cloud and 200MA Line so in my opinion we got 2 Scenarios on this Precious Metal
1st- I Expect The price to Rise to 1885-1890 zone and will come all way back to at least 1890 and 1760.
2nd- A breakout from 1890 zone with a pull back will lead us to our last week previous high at 1960.
I will Be really glad to hear your aspects as well! :)
We can see clearly on chart that however we are back in our Down Trend Channel but the Daily candle is not Fully Closed Below the Ichimoku Cloud and 200MA Line so in my opinion we got 2 Scenarios on this Precious Metal
1st- I Expect The price to Rise to 1885-1890 zone and will come all way back to at least 1890 and 1760.
2nd- A breakout from 1890 zone with a pull back will lead us to our last week previous high at 1960.
I will Be really glad to hear your aspects as well! :)