prakashgp

Gold may fall further and support levels

OANDA:XAUUSD   Gold Spot / U.S. Dollar
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Gold has rejected from top and broke down from upward trendline. Now in short term downtrend withing falling wedge
Possible support zone mentioned in green box
Sustaining above blue resistance level would invalidate the idea and make it bullish again
Order cancelled: Wrong guess. Took support from weekly swing low
Comment: Looks like trend is going to continue upwards from now onwards
Trade active: Entered at 1572 as it is looking weak again