GOLD GROW and comes to resistance line

29 ene 2021

In the middle of last week, the price came to the resistance zone 1875.11, bounced off it and began to fall. It is a strong zone formed by a resistance line from August 2020 and a trend line from November of the same year.

During the fall, the price came to the support zone, represented by the level and the support line - - also the trend line - 1835.39 and from this point a new growth began. During this short rally, the price was already able to rise to the resistance line, but immediately bounced back and is now again at the support line 1841.40.

Despite the fact that I continue to expect the price to rise, now I believe that before resuming the rise, the price will work out another correction. Namely, it will touch the support line and only after that it will rise to the resistance of 1860.94.

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