LegionQ8

Gold can make little movement up and then fall to 2115 points

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FOREXCOM:XAUUSD   Ouro/Dólar Americano
Hello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price some days ago long time rebounded from the buyer zone, which coincided with the support level and rose to the 2085 level, thereby breaking the 1990 level. After this, Gold started to trades in a pennant, where it rebounded from the resistance line and in a short time declined to the buyer zone, which coincided with the support line of this pattern. Next, the price turned around and made a strong upward impulse from the support line to the 2085 level, thereby exiting from the pennant, and also soon, the price broke the 2085 level, which coincided with the support area. After this, Gold made retests and then continued to move up, and now the price trades higher than the support area. So, in my mind, Gold can make a little movement up, after which it will turn around and start to decline. Therefore I set my target at the 2115 level. Please share this idea with your friends and click Boost 🚀
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