Gold can make correction and then continue to move up

25 kwi

Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price some time ago rebounded from the support line, which coincided with the 2305 support level and buyer zone and started to rise to the 2380 resistance level. When the price reached the 2380 level, it soon broke it and rose to the resistance line, but then Gold turned around and made an impulse down almost to the support line, breaking the resistance level again. Later, the price in a short time rose to the seller zone, some time traded inside, and then made the correction below. After this, Gold rebounded up to 2415 points, thereby breaking the resistance level and line, but after this, XAU turned around and started to decline inside the downward pennant. Inside the pennant, the price broke the 2380 level one more time and fell to the support line of this pattern, which coincided with the buyer zone. Then price bounced from this line and in a short time rose higher than the 2305 level, making a fake breakout and even recently price exited from the pennant and now trades close to the resistance line. In my opinion, Gold can make corrections to this line and then rebound up. For this case, I set my target at the 2360 level. Please share this idea with your friends and click Boost 🚀