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GOLD - Price can bounce down to $1890, breaking support level

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Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊

Some days ago price bounced up from $1955 resistance level, which coincided with resistance area and entered to falling channel.

In channel, price declined lower two levels to support line of pennant, breaking them.

After this, price started to move up and in a short time rose to resistance line of pennant, exiting from falling channel.

Also, Gold broke $1915 level and recently it bounced of resistance line and fell to support line of pennant, where continues to trades now.

I think Gold can break support line, thereby exiting from pennant and trying to break support level.

When price breaks support level, it can make retest and continue to fall to $1890

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Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.