Short

Gold can rebound down from resistance line to 2280 support level

Hello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price reached the resistance line and then made an upward impulse to the 2280 support level, which coincided with the support area and soon broke this level as well. Then price made a retest and started to trades inside the range, where firstly it rose to the resistance level, which coincided with the seller zone, but at once turned around and fell to the support level. After this, Gold rebounded from the support level, which coincided with the resistance line and bottom part of the range and started to grow. In a short time, the price reached the 2410 level, breaking it, thereby exiting from the range also and even rose higher than the seller zone, but soon turned around and fell to the resistance line, making a fake breakout of the 2410 level. Soon, Gold broke the resistance line and at the moment continues to trades near this line. So, I think that XAU can rise to the resistance line and then rebound down to the support level, therefore I set my target at the 2280 level. Please share this idea with your friends and click Boost 🚀

LegionQ8

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LegionQ8

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