GOLD - Price can correct to support line and then bounce up

18 hours ago

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

Some time ago price made upward impulse and reached $2670 resistance level, which coincided with resistance zone.

Next, price broke this level, and entered to triangle, where it declined to $2605 support level, breaking $2670 level.

In triangle, price trades tried to back up, but failed and fell below support line, exiting from triangle pattern.

Then Gold in a short time rose to $2726 points, breaking resistance level, after which started to decline inside pennant.

Inside this pattern, price declined to $2583 points, breaking $2670 and $2605 levels, but recently broke $2605 level again.

I think that Gold can decline to support line and then bounce up to $2660, leaving pennant pattern.

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