DeGRAM | GOLD rebound from the support level

GOLD rebounded from the 50% retracement level

XAUUSD returned to the ascending channel.

The chart retained its ascending structure.

We expect the growth to continue.


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Comment:

GOLD has fallen below the lower boundary of the channel.

The chart is moving between the trend line and the support level coinciding with the 50% retracement level.

The price is above the range between 62% and 50% retracement levels.

XAUUSD has formed a descending triangle, but the price continues to hold support.

We expect a rebound.