Just a couple of weeks before, the gold reached a new high at 1765 and started pulling back, forming a counter-trend falling channel.
Last week, the price successfully broke above the top of the channel, signalling that price may continue to rise.
The MAs have also started to bend upwards and market has been trending upwards smoothly.
A small pullback into the support zone between 20 and 55 MAs should be sufficient for a rebound.
Last week, the price successfully broke above the top of the channel, signalling that price may continue to rise.
The MAs have also started to bend upwards and market has been trending upwards smoothly.
A small pullback into the support zone between 20 and 55 MAs should be sufficient for a rebound.