XAU/USD Rebounds Again!
Updated
• On the H1 chart, you can see that XAU/USD found support just beneath the downside line of the channel. Only a false breakdown and an upside turn were registered. It tested the S1 (1,706) static resistance (support turned into resistance).
• It has formed a flag pattern in the near term, which is considered a bearish formation. Major uphill challenges are represented by 1,711 and the downtrend line.
• "Keep it Simple", Good Luck!
• It has formed a flag pattern in the near term, which is considered a bearish formation. Major uphill challenges are represented by 1,711 and the downtrend line.
• "Keep it Simple", Good Luck!
Note
S2 (1,706) not S1 (1,706), sorry for that
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