XAUUSD: Potential downward movement on GoldIn the past days, we have seen XAUUSD Price create an uptrend channel from 2400 to 2531 thereby making 2531 the ATH on XAUUSD . On H1 time frame, XAUUSD has successfully danced to the tunes of trendline by having 3 close contacts with the trendline.
Should we expect a 4th contact??? 🤔
Price seems to have respected the ATH resistance level
Could this be a reason for a potential downside momentum??
Well if price breaks and retest the trendline, we may see price drop down to 2490 and below.
