GOLD DAILY CHART LONG RANGE/TERM MARKET UPDATE

Daily Chart Update

Our unique proprietary Ascending Golden Channel continues to guide price action.

Last week, we highlighted that the channel floor was tested and broken opening at 3974. As anticipated in our video, price then rallied back to retest the underside of the channel floor as resistance, producing the expected reaction before continuing its move.

We have now seen a daily body close back inside the channel, opening 4235 Goldturn Gap. A confirmation from EMA5 lock will add further confirmation

From here, we will monitor whether price can continue to build acceptance back inside the channel and track the move higher accordingly. However, we remain alert for the possibility of another break back below the channel, which would invalidate this recovery and shift the outlook once again.

As always, we'll continue to monitor developments closely and keep you updated.

Mr Gold