GOLD continues to consolidate near the ascending channel support. With news ahead, I expect a retest of the support in the form of a false breakout, which could be followed by a rise towards the 2005-2020 side.
Prerequisites for further upside: 1) The news may be weak for the US market, which will be positive for gold 2) Retest of channel support - logical reaction is a rebound 3) False breakout is possible, price consolidation above the support will form potential and a buy signal.
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