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XAU/USD is in descending channel, expect 1616

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Globally, XAU/USD is in a downtrend in the Month, Week, and Day timeframes.

Locally, XAU/USD is inside a descending channel. XAU/USD got rejected from 1656 with a bearish engulfing in 2-hrs timeframe.

So, in short term (next 2-3 days), I expect the price will be down further to 1616. It's weekly support.
Trade fechado: objetivo atingido
Bearish PatternsshortshorttermTrend Linesxau-usd

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