DeGRAM | GOLD preparations for the breakout of the channel

2024年12月23日

GOLD is in a descending channel between trend lines.

The price is moving from the support level and has already broken the trend line.

The chart has formed a rising bottom and a harmonic pattern.

We expect the rebound to continue if the price successfully consolidates above the 38.2% retracement level.

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2024年12月24日

交易進行

GOLD is in a descending channel below the trend lines.

The price has reached the 50% retracement level, which coincides with the previous rebound point.

The chart reacted with a bearish engulfment on the attempt to break the trend line.

We believe that XAUUSD will continue to grow after consolidation above the channel, it is important to monitor the price reaction to the 50% retracement level.