WalterMoon

GOLD - Price can decline to support level in 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👊

When price bounced from $2005 level, it declined to $1980, but then XAU entered to wedge and started to rise.

Gold in a short time broke $2005 level, and rose to resistance line of wedge, after which price made correction.

Next, Gold made upward impulse to resistance line, thereby breaking $2060 level, but then it turned around and entered to falling channel.

Also, price exited from wedge and soon XAU broke $2060 level in falling channel again, and then decline to support level.

After this, Gold bounced from support level and started to move up to resistance line, but still hasn't reached this line.

I think that Gold can little rise and then continue to decline to $2005 support level.

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