Yesterday, the market went higher even though it made a pullback into the range zone after rejection. OANDA:XAUUSD failed to move higher and pushed back. I think the market may retest the resistance, then go down to recent support levels, breaking through the upward channel border. The market formed a long-tailed bar on the daily timeframe, which suggests the bulls don't have the strength to make a new high. I expect the price to move lower, potentially testing the previous week's low. My goal is the support level at around 2148.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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