Gold (daily time resolution) The price have been below the - TopicsExpress

Gold (daily time resolution) The price have been below the important 1181 support level for a few days, Tricking buyers to close their positions. We have now taken us above the 1181-level. We can see that the price now is captured in a rising trend channel, the biggest challenge ahead is the falling trend channel above (yellow line on the picture). My way to look at it there is no reason to enter long positions as long as the 240 min momentum is falling. Also worth mentioning we have a active squeeze in monthly time resolution = a huge explosive move is ahead of us.

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