XAUUSD 19/09/2022
So gold currently moving in a downtrend channel & also formed a small timeframe structure while facing recent resistance at 1671.26 & support at 1653.99. now if price respects the resistance & breaks out of the support at 1653.99 then price might continue to push down to retest the next HTF support at 1644. 40 while still moving in respect to the downtrend.
However if price breaks & closes above the resistance at 1671.26 then gold could breakout of the downtrend channel & might continue to push up to the next resistance zone 1679.89 again as a retracement.
However if price breaks & closes above the resistance at 1671.26 then gold could breakout of the downtrend channel & might continue to push up to the next resistance zone 1679.89 again as a retracement.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.