Gold Spot / U.S. DollarUpdated Gold (XAU/USD) Entering a S&R Channel
Gold has broken the resistance on the 30M Timeframe after testing once earlier today, making the lower line a support and forming a new resistance line above meaning it has now entered a support and resistance channel and will be heading to the upper resistance of 1483 where our TP is set. Once hit we shall see if it'll test the resistance or continue in a sideways movement along the S&R channel.
Note
Target almost reached, at 40+ pips. US/China News released which caused over a 200+ pip drop.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.