Gold still in the falling channel
The price of gold will have to rise above $ 1920 if it plans to continue the bullish trend. We need a break above the top channel line and 61.8% Fibonacci level. The opposite scenario is the formation of a new negative consolidation and pullback below the 38.2% Fibonacci level. After that, the price is expected to drop to the previous low of $ 1785, and maybe the formation of a new lower low.
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