Gold is testing local resistance at 3325 with a touch. It is also touching the lower boundary of the channel. Thus, the price is stuck in the range between 3325 and 3320. A return of the price to the upward channel may attract buying activity. In this case, we can expect growth to 3375 or to the channel resistance.
The trend is upward. If gold does not fall but returns to the channel, we will see a false breakdown of support. According to statistics, all the strongest movements begin after false breakdown
The trend is upward. If gold does not fall but returns to the channel, we will see a false breakdown of support. According to statistics, all the strongest movements begin after false breakdown
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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.