BCMel
Long

Gold finds strong weekly support

FX:XAUUSD   Gold Spot / U.S. Dollar
The weekly chart her shows gold's fast uptrend channel set the parameters for its latest major correction (broader market crash).
The thick green line is the baseline for gold's multi-year bull market and more recent sideways market.
The horizontal green lines are multi-year support/resistance zones and we can see that the all-time high and various other peaks are in sight.
On the daily chart gold has bounced strongly off the channel bottom within the bottom support zone in preparation for a likely run at the high 1700s zone.


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