GOLD consolidate on support and grow to resistance

8 дек. 2020 г.

The previous signal to buy gold brought in 430 pips and I close the trade expecting the price to fall.

At the beginning of the week, the price came to the intersection of the support line and the resistance line 1871.13. And now it is within the support line.
However, I expect to fall.
The price will drop to the support zone between the two lines (one in 2019, the second on February 2020).

I expect the price to drop through the correction to begin with and touch the support line in the 1817.28 area.
Then it will rise to the line 1857.92 and fall again.
This will become consolidation on the support line.
After that the price will get a good basis for growth.
The ultimate target is the resistance line 1883.32.

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