๐ฅGold Will Defend Support Zone?
๐ฅAll eyes on gold are currently on two key support zones.
๐ฅIt is on these that we depend whether we continue the uptrend or fall into a sideways trend.
๐ฅThe first support zone we are currently on is the zone determined by the fibo level of 0.236 of the entire upward wave from the September bottom to the current peak.
๐ฅThe second support zone below is much stronger and is based on a cluster of three levels. The first is the 0.382 level of the entire upward wave from the September bottom to the current peak. The second was determined by the 0.236 level of the entire downward wave from the 2020 peak to the 2021 bottom. The third level is the 0.786 level of the entire downward wave from the 2011 peak to the 2015 bottom.
๐ฅFuture scenarios only depend on the defence of these two support zones. I encourage you to watch gold and wait for a strong breakout from either of these zones.
๐ฅI determined the resistance zone based on two levels. The first is the recent peak. The second is the 0.886 level of the entire downward wave from the 2011 peak to the 2015 bottom.
๐ฅThe scenario I am playing out is to wait for gold to decide from which zone it will start to continue its uptrend.
๐ฅ *Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
๐If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.๐
๐ฅAll eyes on gold are currently on two key support zones.
๐ฅIt is on these that we depend whether we continue the uptrend or fall into a sideways trend.
๐ฅThe first support zone we are currently on is the zone determined by the fibo level of 0.236 of the entire upward wave from the September bottom to the current peak.
๐ฅThe second support zone below is much stronger and is based on a cluster of three levels. The first is the 0.382 level of the entire upward wave from the September bottom to the current peak. The second was determined by the 0.236 level of the entire downward wave from the 2020 peak to the 2021 bottom. The third level is the 0.786 level of the entire downward wave from the 2011 peak to the 2015 bottom.
๐ฅFuture scenarios only depend on the defence of these two support zones. I encourage you to watch gold and wait for a strong breakout from either of these zones.
๐ฅI determined the resistance zone based on two levels. The first is the recent peak. The second is the 0.886 level of the entire downward wave from the 2011 peak to the 2015 bottom.
๐ฅThe scenario I am playing out is to wait for gold to decide from which zone it will start to continue its uptrend.
๐ฅ *Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
๐If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.๐
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๐ฒ To keep up to date with all my activities I invite you to visit my Telegram ๐ฒ
๐ฒ www.t.me/Investmatez ๐ฒ
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