Gold is now moving above the descending line after its breach to the top, after rising from the strong buying area 1927-1937, which was tested more than once in the current month of June. Thus, if the current four-hour candle closes above the line, gold will complete the ascent to the 1970-1980 area.
Note
As it is clear now, the four-hour candle did not close above the descending line, and thus we take into account some decline if the current candle closed below the line with a strong price Action candle.
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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.