Gold has traded in an upward price channel since June 2024. This channel's upper and lower bands have acted as support and resistance several times, which reinforces their predictive value.
The balance of probabilities suggests that gold could pull back either to the channel's midpoint, which coincides with its 50-day moving average, or to the lower bound of its price channel, which coincides with its 100-day moving average.
How are you trading this?
The balance of probabilities suggests that gold could pull back either to the channel's midpoint, which coincides with its 50-day moving average, or to the lower bound of its price channel, which coincides with its 100-day moving average.
How are you trading this?
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