GOLD FALL and back to SUPPORT level

As we remember, at the beginning of January the price collapsed about the resistance level of 1959.22, after which it broke through the support zone - at that moment of resistance - moved in the zone without leaving it for several days, and then touched the support line at 1818.63.

From this line, the price started a new growth and eventually managed to break through the support level of 1847.31, and then come to the resistance line 1872.96. This corresponds to the first scenario of price movement, which I talked about at the beginning of the week.

It is worth clarifying that the resistance line to which the price has approached is very strong. The first touch of this line occurred in May 2019. Therefore, now I continue to expect that, before continuing to move along the first option, the price will reverse from this line and fall.

This drop can be regarded as a correction to the previous growth. I expect the price to come to the support level of 1847.33.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻