Gold Analysis: Will the Critical Resistance Hold or Break

ChartSavant Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold is following a downward trend line in the 4-hour time frame and has formed a short-term ascending channel!

Gold is currently at a very important resistance zone of 2035 - 2039. Here we have two possibilities:

1. Gold may fail to break above this resistance and continue its downward movement from this area.
2. Gold might break above this resistance with today's news and move towards 2044 - 2047, meaning the top of the descending channel, and then, with tomorrow's news, continue to hit a downward trend from this area or an even more significant resistance of 2055 - 2058.

Pay attention to the news! News events shape all trends! 📈
Very beautifully, it has executed a downward movement from the resistance range of 2035 - 2039 😉💸.
Am I the gold mafia? LOL 😄

Save some profit in 2028 and 2024


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