jan80hansen

Trying to regain support in the channel

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
For the past couple of weeks price has been moving in a bearish channel. This week we broke through the channel to the downside but I would be cautious trying to short it now as it seems to be regaining support in the channel. A break of 1310 would confirm more downside .
If your bullish wait till price breaks above 1320.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.