If you checked my previous posts, I pointed out 2016 level as strong support and 2030-40 level as strong resistance. However, it appears that gold is aiming for higher prices and is trading at the moment outside of the descending channel and close to the 2040 resistance level. A break above it will open doors for more upside movement.
Note
Let's see if this is a proper breakout...Note
Not quite ready to take off yet... It's best to wait for clear price action before entering the market.Note
Stay away from this mess until there's a clean price action. Sometimes it's better to not trade at all.Note
Looks like it was a 'buy the dip' kinda situation. Let's see if resistance levels will be broken this time around...Note
One resistance down... two to goNote
What a mess! lol 
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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.