FXAutomate

Gold looking to re-test resistance of consolidation channel

Long
From this monthly chart we can see that Gold is still stuck in consolidation with the false breakout in September last year serving for the necessary liquidity to propel it back t the top of the channel. I like the fact that we saw a re-test of the Yearly Pivot @ 1832 with price quickly rejecting it and making a new high. Interim target will be the top of the consolidation channel @ 2058 with a possible test of the upper diagonal channel @ 2130

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