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#XAU #Gold
Friends, when we look at the chart, gold has been moving clearly within a descending channel for about 2 months.
Recently, the middle band of this channel was broken and retested.
So, the current structure is starting to turn upward.
At the same time, within the channel,
☕ a cup & handle formation is observed.
Currently, the price:
➡ is retesting the formation resistance
🟢 If the retest is confirmed,
First target: channel resistance
Subsequently: a sharper rise with channel breakout
📊 In short:
Both the channel structure and the formation point to the same area.
Stay tuned.