Gold Consolidating Near Long-Term Trendline

ChartSavant Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold has been in a long-term downtrend on the 12-hour timeframe and has been attempting to break this trendline for almost 2 days now.

Should it break the trendline, it faces a significant resistance range
2055 - 2062
We expect a reaction to this resistance after breaking the trendline, with a potential pullback to the broken trendline followed by its own upward move towards 2070.

In case it fails to break the downtrend line, we may witness a downward movement towards a key support range at 2020.
Very exciting and swift 🌟 Our target for gold 2077 has been hit!


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