GOLD (XAU/USD) – Week 42 – Will the channel hold?

In our previous forecast, we anticipated Gold to continue the bearish trend. Instead, the price formed an ascending channel and gained strength until it reached the resistance area where it sharply reversed.
In the coming week, we are expecting the price to make a correction at the bottom of the channel and go for another bearish push.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.