In the past days, we have seen XAUUSD Price create an uptrend channel from 2400 to 2531 thereby making 2531 the ATH on XAUUSD. On H1 time frame, XAUUSD has successfully danced to the tunes of trendline by having 3 close contacts with the trendline.
Should we expect a 4th contact??? 🤔
Price seems to have respected the ATH resistance level
Could this be a reason for a potential downside momentum??
Well if price breaks and retest the trendline, we may see price drop down to 2490 and below.
Should we expect a 4th contact??? 🤔
Price seems to have respected the ATH resistance level
Could this be a reason for a potential downside momentum??
Well if price breaks and retest the trendline, we may see price drop down to 2490 and below.
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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.