DeGRAM | GOLD reached the upper boundary of the channel

yesterday

📊 Technical Analysis
● XAU/USD has reached the 3,700 resistance, forming a rejection wick that signals weakening bullish momentum at the upper channel boundary.
● A pullback scenario is favored, with downside targets aligning at 3,674 support first and then 3,656 if selling pressure extends.

💡 Fundamental Analysis
● Gold is facing renewed headwinds from stronger US Treasury yields, while dollar demand remains firm on expectations of a prolonged restrictive Fed stance.

✨ Summary
Bearish below 3,700; targets 3,674 → 3,656. Invalidation on a close above 3,705.

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5 hours ago

Trade closed: target reached

The upper support level has been broken downwards!