Gold is currently moving in a short-term rising trend channel, best seen on the M30 or H1 time frames. Currently, the price is slightly above the support, but very close to the bottom line of the trend channel. We think it is likely that a rebound from the support level and at the same time a rebound from the lower line of the trend channel should have enough momentum for the price to "look" at higher levels, to the upper line of the trend channel. There is also a resistance level in that area, where our target price is.
Gold is currently moving in a short-term rising trend channel, best seen on the M30 or H1 time frames. Currently, the price is slightly above the support, but very close to the bottom line of the trend channel. We think it is likely that a rebound from the support level and at the same time a rebound from the lower line of the trend channel should have enough momentum for the price to "look" at higher levels, to the upper line of the trend channel. There is also a resistance level in that area, where our target price is.