Lingrid

GOLD reached RESISTANCE level, next target - FALL

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Let me remind you that last Friday we expected the price to start falling from the resistance level of 1763.79. And so it happened.

The price was able to break this level during the fall in the downtrend in February 2021. Then it dropped to the support zone 1675.91 at the intersection of the support level and the trend line of August 2020. The price increased from this zone, but stopped at the resistance line 1763.79, where it was stuck for almost two weeks.

After the start of the movement, the price returned to the support level , bounced back and touched the resistance again. We now see that the price is showing a slight downward movement. And I expect that now it will fall, break the support line 1697.21 and touch the support level 1675.91.

Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻

Comments

I imagine it will go like this
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Lingrid hiroller
@hiroller, nice chart)
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I agree but I am still calling for one more new low
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Lingrid WissiG
@WissiG, I will be glad if you share your thoughts)
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Well done
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@Cvi7, thank so much)
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people copy your analysis and your notes
you should trade mark it
Reply
Lingrid Flyingteigar
@Flyingteigar, from this no one is immune, unfortunately
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