we are tracking a descending channel pattern, outlined by the red boundaries.
Currently, gold's price has rallied to the upper resistance of the channel, marking a pivotal moment for traders.
Should the price adhere to the channel's resistance, we anticipate a potential reversal heading back down.
However, unlike previous lows, a higher low is expected this time around, likely within the green highlighted support zone, suggesting a nuanced adjustment in market sentiment and providing a strategic entry point for those monitoring this precious metal's price movements.
Currently, gold's price has rallied to the upper resistance of the channel, marking a pivotal moment for traders.
Should the price adhere to the channel's resistance, we anticipate a potential reversal heading back down.
However, unlike previous lows, a higher low is expected this time around, likely within the green highlighted support zone, suggesting a nuanced adjustment in market sentiment and providing a strategic entry point for those monitoring this precious metal's price movements.
Trade closed: target reached
What an Entry! What a Target! Congratulations to everyone who followed and trusted us.
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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.