InvestMate|GOLD, Will continue the trend🥇
🥇GOLD, Will continue the trend
🥇Looking at the current situation and the fundamental environment, it seems to me that the continuation of the uptrend scenario is very likely.
🥇Looking at the fact that we have broken out of the downtrend channel it doesn't even look like we are going to test its edge, this only confirms me in my uptrend scenario.
🥇We are currently approaching a significant resistance zone defined by the 0.618 level of the entire downward correction of the upward wave.
🥇It seems to me that this zone is capable of holding the price for some time.
🥇There is a strong support zone below us at around 1720, set by the fibo level 0.236 of the entire downward wave from ath.
🥇Looking at the recent bounce from the support zone, the current interest in gold and the gradual weakening of the dollar. I don't think that support will be broken through in the near future.
🥇The target where I see gold over the next weeks is the resistance zone determined by the fibo level of 1.618 of the entire downward correction. At the 1,820 level there has been a repeated battle between buyers and sellers so I see this zone as crucial.
🥇The scenario I'm playing out is a continuation of the upward movement of the gold price, taking into account the possibility of corrections along the way
🥇*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
🥇Looking at the current situation and the fundamental environment, it seems to me that the continuation of the uptrend scenario is very likely.
🥇Looking at the fact that we have broken out of the downtrend channel it doesn't even look like we are going to test its edge, this only confirms me in my uptrend scenario.
🥇We are currently approaching a significant resistance zone defined by the 0.618 level of the entire downward correction of the upward wave.
🥇It seems to me that this zone is capable of holding the price for some time.
🥇There is a strong support zone below us at around 1720, set by the fibo level 0.236 of the entire downward wave from ath.
🥇Looking at the recent bounce from the support zone, the current interest in gold and the gradual weakening of the dollar. I don't think that support will be broken through in the near future.
🥇The target where I see gold over the next weeks is the resistance zone determined by the fibo level of 1.618 of the entire downward correction. At the 1,820 level there has been a repeated battle between buyers and sellers so I see this zone as crucial.
🥇The scenario I'm playing out is a continuation of the upward movement of the gold price, taking into account the possibility of corrections along the way
🥇*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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