GOLD - Price can reah resistance level and then start to fall

7 בנוב׳ 2024

Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊

Some days ago price grew inside rising channel, where ot fell to support area and then bounced up, breaking $2500 level.

Then price rose in channel to $2605 level, exited from rising channel, and started to trades inside flat.

In flat, Gold rose to top part and then made a correction to $2605 support level, after which bounced up.

Price exited from flat and continued to grow inside pennant, where it rose to resistance line, breaking $2710 level.

But recently, XAU turned around and made downward impulse, exited from pennant, and broke $2710 level one more time.

Now it growing and I think Gold can reach resistance level and then fall to $2605 support level.

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8 בנוב׳ 2024

עסקה פעילה

Great! Gold reached a resistance level, turned around, and started to decline. For this case, I think it continues to decline to the support level.