Will Gold bounce or breakdown for correction? Long

Gold/U.S. DollarFXCM

Description

⋅ Jul 24, 2020 10:29 AM

The scenario we currently have is either break or bounce as show in the chart.

We have broken out and came to retest the horizontal channel. This coincides with the ascending channel. All we can do is wait and see how it plays out.

However, my bias still remains to the upside.

Trend Analysis Chart Patterns