GOLD returned to GROWTH after false breakout

18 feb 2021

Gold made a false break yesterday, dropping below the support line from which we expected a rise. And I finished the schedule and update the forecast. Despite the false breakout, the price returned to the position and is now in the support zone of 1782.67. Here we see one of the main trend lines - the support line for August 2020, as well as a small support area formed at the price lows during the last false breakout in November.

Like yesterday, I expect the price to continue to rise and eventually return to the resistance line. During growth, corrections are naturally possible, for example, at the resistance level of 1798.56. And the final target that I expect is the resistance line 1827.27.

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