XAUUSD Approaching Channel

Gold is fast approaching critical technical resistance as the yellow-metal continues to make steady progress above the $1,800 support level. The $1,865 level is the current location of a large falling price channel, which is found across multiple time frames. Gains above this important technical area could provoke a huge upside rally in the price of gold towards the $1,900 level.


XAUUSD is only bullish while trading above the $1,830 level, key resistance is found at the $1,865 and the $1,900.00 levels.


If XAUUSD trades below the $1,830 level, sellers may test the $1,800 and $1,770 support levels.



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