#XAUUSD 24 03 2021
We continue to observe the formation of a fall in the price of gold. Let me remind you that yesterday we expected that the gold will reverse from the resistance line 1751.13 and begin to fall. And so it happened. The fall began for several reasons. Firstly, this resistance line is very strong - it has existed since August a year has passed and, despite the breakdown that occurred in December-February, it often reversed the price. Secondly, this time the price is well entrenched on the line - at least two touches can be observed. Now I expect that, having fixed on the line, the price will continue to fall and, as a result, will come to the support line. Thus, my final target is the support line 1653.98.
We continue to observe the formation of a fall in the price of gold. Let me remind you that yesterday we expected that the gold will reverse from the resistance line 1751.13 and begin to fall. And so it happened. The fall began for several reasons. Firstly, this resistance line is very strong - it has existed since August a year has passed and, despite the breakdown that occurred in December-February, it often reversed the price. Secondly, this time the price is well entrenched on the line - at least two touches can be observed. Now I expect that, having fixed on the line, the price will continue to fall and, as a result, will come to the support line. Thus, my final target is the support line 1653.98.