Gold price, which started to rise last week from support zone 1683.09. On Friday, it stopped at the resistance line 1735.13, after which it rolled back and returned to the line at the point 1730.63. This resistance line formed last August in the middle of a major downtrend in which price is moving. At this line, the price has repeatedly made corrections and sometimes changed the direction of movement. So now, after the price has settled so well on the line, I expect it to fall again. And this is a great position to open a sell trade! I never tire of reminding you of the importance of SL - Look for it above the resistance line around 1747.23.
Gold price, which started to rise last week from support zone 1683.09. On Friday, it stopped at the resistance line 1735.13, after which it rolled back and returned to the line at the point 1730.63. This resistance line formed last August in the middle of a major downtrend in which price is moving. At this line, the price has repeatedly made corrections and sometimes changed the direction of movement. So now, after the price has settled so well on the line, I expect it to fall again. And this is a great position to open a sell trade! I never tire of reminding you of the importance of SL - Look for it above the resistance line around 1747.23.