Short

GOLD (XAUUSD): Your Technical Outlook For Next Week 🥇

Updated

Hey traders,

Very peculiar situation on Gold.
After the market dropped nicely at the end of December,
it started to recover steadily within a rising parallel channel.

While the market is staying within the channel you can consider
intraday/scalping trades from its boundaries:
buying the support and selling the resistance.

In case of a bearish breakout of its support,
perceive the channel as a bearish flag pattern and sell the market with the initial target being 1782.

Good luck next week, traders!

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