WalterMoon

GOLD - Price can exit wedge, break support level, and fall lower

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OANDA:XAUUSD   黃金現貨 / 美元
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊

Some days ago price declined to $1973 points, thereby breaking $2010 level, which coincided with support area.

But soon, Gold turned around and made strong upward impulse to $2087 points, breaking $2010 and $2065 levels.

Also, price entered to wedge, where later XAU bounced of resistance line and fell to support area breaking $2065 level.

After this, price bounced from support area and rose to resistance line of wedge, but a not long time ago fell to support line.

Now, Gold continues to trades near this line and I expect that price can exit from wedge and make retest.

Then price can fall to support level and break it, after which Gold will continue to decline to $1995

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