The chart shows that gold was in a downtrend but has now broken out of the descending channel. This breakout suggests a potential upward move. If the price holds above the breakout level, it could continue rising toward the next resistance around $2,925 - $2,950.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.