From a technical perspective Gold is climbing in a parallel channel, clearly bullish with a rhythm that’s hard to ignore. Price just bounced off the resistance with force, a classic overextension flush.
And the market is now approaching the lower boundary of this projected channel. This confluence of technical support is likely to attract renewed buying interest.
I expect it to bounce back toward 3,410, somewhere around the middle of the channel. The move up may not be determined right away. It could be consolitaing, fake dips first, or sudden acceleration.
And the market is now approaching the lower boundary of this projected channel. This confluence of technical support is likely to attract renewed buying interest.
I expect it to bounce back toward 3,410, somewhere around the middle of the channel. The move up may not be determined right away. It could be consolitaing, fake dips first, or sudden acceleration.
Trade active
Watching the level around 3.325 for any bullish confirmation, will see from there 
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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.