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XAU/USD – getting close to resistance of a Channel Down

XAU/USD – getting close to resistance of a Channel Down

XAU/USD is moving towards a resistance line. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 2 days and may test it again within the next 14 hours.

Chart 15 Minutes
Pattern Channel Down
Length 174 Candles
Identified 01-Sep-2022 05:45 UTC