FOREX MARKET ANALYTICSGOLD - Price can break resistance level and continue to rise
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments on TradingView (link above)
Inside triangle, price bounced from support line to resistance line, but at once backed up and even made fake breakout.
After fake breakout, Gold bounced up to $2030 point, thereby leaving triangle and breaking $1985 level.
Then price made retest to support line and continued to rise to resistance level.
But reached this level, Gold at once bounced down and entered to falling channel.
In channel, price fell below $1985 level, made fake breakout, and started to grow.
When price left channel, it bounced higher of resistance area with level, but now Gold trades below.
Possibly Gold can bounce higher of resistance area and level, make retest or not, and continue to rise to $2070
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