Gold will rebound from trend line and grow to 2700

16 hours ago

If we look at the chart, we can see how the price started falling inside the descending channel and then fell to the resistance level, coinciding with the resistance zone. The price traded in this area for a while and later broke through 2735 points, after which it fell to almost the support line of the channel, and then turned around and rose to the resistance line, and then continued to fall. In a short period of time, the price fell to the support level, coinciding with the support zone, and then rebounded, and then rose slightly, and then continued to fall, breaking through 2595 points. Gold later touched the trend line, and then turned around and began to rise, exiting the descending channel. The price soon rose to 2595 points, broke through again, and continued to rise near the trend line. So far, the price continues to rise near this line, and I expect XAUUSD to rebound from the trend line and start to rise to 2700 points.