GOLD forecast extension - FALL

27 Nis 2021

First, the price reached the level of resistance and prepared for a fall.

Then she turned around and began to fall.

Now the price is in the resistance area, just like yesterday. For a day, she practically did not budge. And I extend my fall forecast.

At the end of last week, gold advanced to the resistance line of 1779.28 and tried to break it. This is a strong line formed during the first wave of covid in August 2019, when investors began to sell gold en masse. It is also the main guide of the downtrend.

Within this trend, we observed several corrections - in September and November 2020 and now - in April 2021. I believe that the correction will end at the line and despite the false breakout, the price will fall again. It will break through the 1779.28 line and drop to support 1714.23. This will be our goal.

Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻