This is gold futures at the 4 hour view. It seems that my channels are a success. Gold has been in an upward channel since September 2018.
That's right. Gold was in a channel for nearly 2 years. The only exception was March 2020.
Gold may face a pullback if the dollar rips to the upside. Currently, the dollar strength bounced off a major uptrend support stemming from 2018.
Furthermore, more investors/traders are leaving gold for dividend stocks. Once gold gets its pullback, it may breakout again as I see no signs of the channel breaking so far.
That's right. Gold was in a channel for nearly 2 years. The only exception was March 2020.
Gold may face a pullback if the dollar rips to the upside. Currently, the dollar strength bounced off a major uptrend support stemming from 2018.
Furthermore, more investors/traders are leaving gold for dividend stocks. Once gold gets its pullback, it may breakout again as I see no signs of the channel breaking so far.
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