XAUUSD 16/09/2022
As you can see price moving in a downtrend channel & also formed a small timeframe structure while facing resistance at 1671.55 & support at 1653.46. now if price respects the resistance & breaks out of the support at 1653.46 then price might come 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 structure & resistance at 1671.55 then gold would breakout of the downtrend channel & might continue to push up to the next resistance zone 1681.22.
However if price breaks & closes above the structure & resistance at 1671.55 then gold would breakout of the downtrend channel & might continue to push up to the next resistance zone 1681.22.
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