Willing to see Gold retrace after breakout of ascend Triangle
GOLD 1W
Gold in weekly time frame formed an ascending triangle which was broken on the upside.
Price rallied up to resistance (1975.29), retraced back to level 1889.84 which is now a support level and the price rally up and close to level 1971.19.
This week there might be a possibility that the price may continue to go up, get resisted between level 1975.19 - 1983.51 and then drop to be supported second time on level 1855.02 where 0.618 fibonacci retracement level lies then shoot up to resistance 2036.34
Gold in weekly time frame formed an ascending triangle which was broken on the upside.
Price rallied up to resistance (1975.29), retraced back to level 1889.84 which is now a support level and the price rally up and close to level 1971.19.
This week there might be a possibility that the price may continue to go up, get resisted between level 1975.19 - 1983.51 and then drop to be supported second time on level 1855.02 where 0.618 fibonacci retracement level lies then shoot up to resistance 2036.34
