DeGRAM | GOLD breakout of support
Updated
GOLD is in a descending channel below the trend lines.
After breaking the support, the price formed a descending bottom but is now moving above the support.
The chart is under the 78.6% retracement level.
We expect the decline to continue after consolidation under the support level.
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Share your opinion in the comments and support the idea with a like. Thanks for your support!
After breaking the support, the price formed a descending bottom but is now moving above the support.
The chart is under the 78.6% retracement level.
We expect the decline to continue after consolidation under the support level.
-------------------
Share your opinion in the comments and support the idea with a like. Thanks for your support!
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GOLD is in a descending channel above the trend lines, which previously acted as a barrier to continued decline.
The chart maintains a downward structure, and the upper trend line does not provide as strong support as before.
The price is holding under the resistance level.
We expect XAUUSD to continue its decline if the pair consolidates under the upper trend line.
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