After losing approx 200$ from the last high and rebounding on the long ascending trend line, Gold entered and formed a new ascending parallel channel. This channel has been tested on the upper and on the lower side, confirming the limits.
In the following Gold re-broke the descending trend line, which was important for the further evolution.
The next strong resistance will be the fib retracement 23.6% (downgoing fib), also fib retracement 61.8% (upgoing trend).
RSI is confirming the new trend.
In the following Gold re-broke the descending trend line, which was important for the further evolution.
The next strong resistance will be the fib retracement 23.6% (downgoing fib), also fib retracement 61.8% (upgoing trend).
RSI is confirming the new trend.
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Gold reaching upper limit of trend channel!
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Gold reaching upper limit of trend channel.