GOLD - Price can bounce down from resistance area to $2300
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Some days ago price made upward impulse from the support line to $2430 points, thereby breaking $2280 and $2375 levels.
But then it turned around and soon broke $2375 level, which coincided with resistance area one more time.
After this, Gold continued to decline inside falling channel, where it later broke support line and fell to $2280 level.
Then price bounced up from support level, which coincided with support area, thereby exiting from channel.
Also then XAU rose and reached $2375 resistance level, where at the moment continues to trades near.
So, in my mind, Gold can enter to resistance area and then bounce down to $2300
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Some days ago price made upward impulse from the support line to $2430 points, thereby breaking $2280 and $2375 levels.
But then it turned around and soon broke $2375 level, which coincided with resistance area one more time.
After this, Gold continued to decline inside falling channel, where it later broke support line and fell to $2280 level.
Then price bounced up from support level, which coincided with support area, thereby exiting from channel.
Also then XAU rose and reached $2375 resistance level, where at the moment continues to trades near.
So, in my mind, Gold can enter to resistance area and then bounce down to $2300
If this post is useful to you, you can support me with like/boost and advice in comments❤️