HelenP. I Gold will make correction movement to support zone

4月16日

Hi folks today I'm prepared for you Gold analytics. After a strong breakout from the ascending structure, price continued its bullish momentum and reached a fresh local high near 3340 points. This impulsive rally was preceded by a steady upward trend inside a rising channel, where the price showed multiple rejections from the lower boundary and the trend line, particularly near the 2970 level, which also matched with the key support zone at 2950 - 2970 points. The upward movement accelerated once Gold broke through the previous resistance zone around 3160 points, which is now acting as support. That level also coincides with the upper edge of the earlier consolidation area, making it a key zone for potential future reactions. At the moment, the Gold is trading far above the trend line and is extended from its last confirmed support structure. Given the sharp vertical impulse and the lack of significant pullbacks, I expect a downward correction toward the 3175 - 3160 support zone, which is my current goal. This area remains critical for evaluating the next buyer reaction and further trend continuation. If you like my analytics you may support me with your like/comment ❤️

4月17日

交易進行

Gold grew a little and then started to decline. For this case, I expect that XAU will continue to fall to support zone.