Gold's Descending Triangle Breaks Support, Hinting at Further Correction
Gold's descending triangle pattern is breaking below its support level, indicating a potential for further correction. The next area of support is potentially identified within the range of $2140 to $2145, which also corresponds to the median line of the long-term bullish channel.
Resistance 3 |
Resistance 2 |
Resistance 1 |
Support 1 |
Support 2 |
Support 3 |
2300 |
2250 |
2200 |
2140-45 |
2088 |
2055-60 |