Potential Decline in Gold

6시간 전

Good evening, everyone. Today, we will analyze the outlook for gold.

Let’s focus on the blue upward-sloping channel. The channel has a gentle incline, which is precisely what we want to see as it indicates a stable trend. When gold breaks below this type of inclined channel, it often results in a rapid price movement.

Currently, there have only been two tests of the lower boundary, suggesting it may still take some time before any significant move. However, the tendency of a breakout occurring after the fourth test means it’s crucial to keep a close watch on the upcoming attempts.