2023-01-20 16:14:24
XAU/USD
Gold is trades inside a wedge and could go lower and break support line
Hello my friends, today I want to talk to you about Gold.
The price tested support level 1867.50 bounced back and begin to rise, thus forming upward wedge.
Gold Is currently traded inside of wedge.
The price made retest resistance line and bounced back and dropped.
Gold is now trading below the resistance line and can continue to decline.
I expect that price continue to fall and can break through the support line of wedge.
So I decided to set 2 goals.
First goal I set in zone 1912-1908 which coincide with the support line, second goal I set at level 1895.
I expect such a scenario.
This is an article not financial advice, always do your own research.
https://www.tradingview.com/x/EoCkM06S/
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