DeGRAM | GOLD rebound in the channel

GOLD is moving in a descending channel above dynamic support.

The price has fallen back into the demand zone.

We expect the rebound to continue after overcoming the correction level.


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Comment:

GOLD fell back into the demand zone.

The chart was pointing to an unambiguous price direction after reaching the border of the demand zone or resistance zone.

The price reached the dynamic support.

The formed candles indicate the uncertainty of the local trend.

We expect a rebound, but after the retest of the lower demand boundary.

Comment:

XAUUSD fell under the lower boundary of the demand zone.

Markets are wary of gold's decline amid possible strengthening of the dollar.

The chart touched and confirmed the level of dynamic support.

Until the price fixes under the nearest resistance, it is too early to talk about a change of trend.

We think that GOLD may continue to grow after fixing above the nearest level, it is also important to observe the reaction to the level of dynamic resistance.

Comment:

GOLD is moving maintaining its downward structure.

The price chart is testing the lower boundary of the descending channel.

XAUUSD is falling for a long time without correction.

We can expect a rebound if the channel is held.

Comment:

GOLD is moving in a descending channel between the trend lines.

The chart still maintains a downward structure, but it has not formed a new bottom after the resistance retest.

Volatility has decreased and the price is near the resistance level.

We still expect growth in case of consolidation above resistance.