The price of gold will fall below 2700 points and exit support!
The price of gold will fall below 2700 points and exit support!
A few moments ago price started to decline inside falling channel, where it at once reached $2645 level and broke it.
Then price rose to resistance line of channel, after which bounced and continued to decline in channel.
Later it reached $2645 level, broke it, and fell to support line, but soon made upward impulse and broke $2645 level again.
Also, price made gap exited from falling channel and continued to grow inside pennant, where it reached $2720 level.
Gold broke this level and rose to resistance line of pennant pattern, but recently fell to support line and made a gap.
I think that price can rise a little, exiting from pennant, and then fall to $2700, breaking support level.
A few moments ago price started to decline inside falling channel, where it at once reached $2645 level and broke it.
Then price rose to resistance line of channel, after which bounced and continued to decline in channel.
Later it reached $2645 level, broke it, and fell to support line, but soon made upward impulse and broke $2645 level again.
Also, price made gap exited from falling channel and continued to grow inside pennant, where it reached $2720 level.
Gold broke this level and rose to resistance line of pennant pattern, but recently fell to support line and made a gap.
I think that price can rise a little, exiting from pennant, and then fall to $2700, breaking support level.
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