GOLD - Price can exit from wedge and decline to $2025 level
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Recently price bounced from $1985 support level, which coincided with support area, and started to trades inside rising channel.
In a short time, Gold reached resistance line of channel, exiting from it, and then rose higher than $2085 resistance level.
Next, price entered to wedge, where it bounced from resistance line and made strong downward impulse to support line.
Thereby price made a fake breakout of $2085 level, but later Gold bounced from support line and rose back to this level.
A not long time ago price fell from this level to support line again and now XAU trades near this line.
Possibly, Gold can make a little movement up and then bounce down to $2025, exiting from wedge.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Recently price bounced from $1985 support level, which coincided with support area, and started to trades inside rising channel.
In a short time, Gold reached resistance line of channel, exiting from it, and then rose higher than $2085 resistance level.
Next, price entered to wedge, where it bounced from resistance line and made strong downward impulse to support line.
Thereby price made a fake breakout of $2085 level, but later Gold bounced from support line and rose back to this level.
A not long time ago price fell from this level to support line again and now XAU trades near this line.
Possibly, Gold can make a little movement up and then bounce down to $2025, exiting from wedge.
If this post is useful to you, you can support me with like/boost and advice in comments❤️