GOLD growth and fall in channel

2 нояб. 2020 г.

In early August, gold formed a descending channel in which it has been moving ever since.
The price regularly comes either to the resistance line or to the support line (channel borders).
Since the end of October, the trend has become downtrend again.
All my predictions during this time promised a fall (and came true).
27 October

28 October

29 October

At the end of last week, the price changed its trend again and showed insignificant growth.
I want to remind you of my previous analysis so that you better understand the scale of the price movement and its final goal.

I expect that in the end the price will exit the channel and fall to a strong support zone - the line crossing.
This is our global goal.
But while the price is moving in the channel.
Local target for the near future - the price will touch the resistance line and turn again in a downtrend.
As a result, she will come to the support line.
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