Gold: Trend Turned Bullish, Awaiting Retracement

FX:XAUUSD   Gold Spot / U.S. Dollar
The gold has broken above the key price of 1300 soon after it has broken above a 3-month falling trendline .
The trend has clearly turned bullish brought forth by a significantly bull strength.
Since the price broke above 1300, it fell into a consolidation yesterday and the price continues to retrace lower.
A retracement channel has been plotted to determine the end of the retracement which can be seen right at a rising trendline and the breaking point of 1290.
Thus, wait for the price to complete the retracement channel and look for buy opportunity at the bottom around 1290.
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