After gold started to rise at the end of November, the price came to the resistance zone 1950.34 and collapsed from it. During the fall, the price broke through the strong resistance level of 1858.06 and came to the support line at 1828.89.
The other day we expected that from this support line the price will immediately return to growth and again come to the resistance zone, breaking through the level. However, Gold is in no hurry to start active growth. Having pushed off the support, it stopped at the resistance level and fell again.
This support line starts back in August and formed at the downtrend highs. Apart from a false breakout during the US elections, the line was broken only once. In mid-December, the price jumped and broke through the resistance zone from this line and level.
All this suggests that now the price will not be able to fall over the line. I expect the price to touch the support line 1821.04 and then bounce off it and rise to the resistance level 1858.08.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻