The market dropped from the resistance zone after breaking out of the ascending channel by making a impulse leg and hit the target. The market is heading towards strong support on the daily timeframe and the price might bounced off it. I think gold may go up if price action forms fake break or double bottom at the support level . My target is the resistance at 1846.80.
Note
GOLD 1829.80 TO 1842.71++ NEW HIGHTrade closed: target reached
GOLD 1829.80 TO 1844.84++ NEW HIGH
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.