Gold can break support line and fall to 1940 level
520
Hello traders, I want share with you my opinion about Gold. Looking the chart, we can see that price, after broke 1960 level, bounced down and continued to decline until below support level with area. But at once it backed and made strong upward impulse to resistance level, which coincide with seller zone. Later Gold rose higher to 1985, but soon it bounced down and made big correction to support area, thereby breaking past level. Then price some time traded between seller zone and support area, and later price fell below support area to support line. But a not long time ago, Gold made strong upward impulse to resistance line. Next, it started to decline and fell to the support line, where the price continues trading now. In my mind, Gold can make movement to resistance line and then bounce down. As well maybe price can break support line, make retest, and continue to fall to support level. For this case, I set my target on this level - 1940. Please share this idea with your friends and click Boost 🚀
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