GOLD - Price can break support level and start to decline
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
A few days ago price trades between resistance level and support area, and then entered to pennant.
In pennant, Gold broke resistance level and bounced higher of resistance area.
Later price started to decline and fell to support level, but at once bounced to resistance area, thereby exiting from triangle.
Then Gold entered to falling channel, where price broke $2000 level and exited this channel.
Also, price fell below $1960 level, but later bounced up, and now Gold trades close.
Possibly price can break support level, make retest or not and start to fall to $1940 level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
A few days ago price trades between resistance level and support area, and then entered to pennant.
In pennant, Gold broke resistance level and bounced higher of resistance area.
Later price started to decline and fell to support level, but at once bounced to resistance area, thereby exiting from triangle.
Then Gold entered to falling channel, where price broke $2000 level and exited this channel.
Also, price fell below $1960 level, but later bounced up, and now Gold trades close.
Possibly price can break support level, make retest or not and start to fall to $1940 level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️