InvestMate|Gold Will Defend Support Zone?🥇

🥇Gold Will Defend Support Zone?

🥇All eyes on gold are currently on two key support zones.

🥇It is on these that we depend whether we continue the uptrend or fall into a sideways trend.

🥇The first support zone we are currently on is the zone determined by the fibo level of 0.236 of the entire upward wave from the September bottom to the current peak.

🥇The second support zone below is much stronger and is based on a cluster of three levels. The first is the 0.382 level of the entire upward wave from the September bottom to the current peak. The second was determined by the 0.236 level of the entire downward wave from the 2020 peak to the 2021 bottom. The third level is the 0.786 level of the entire downward wave from the 2011 peak to the 2015 bottom.

🥇Future scenarios only depend on the defence of these two support zones. I encourage you to watch gold and wait for a strong breakout from either of these zones.

🥇I determined the resistance zone based on two levels. The first is the recent peak. The second is the 0.886 level of the entire downward wave from the 2011 peak to the 2015 bottom.

🥇The scenario I am playing out is to wait for gold to decide from which zone it will start to continue its uptrend.

🥇 *Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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