GOLD → The bulls continue to fight back. Consolidation

XAUUSD is in consolidation after the beginning of correction on the background of profit-taking and also strong sell-offs.

Technically, the price does not show hints to leave the descending channel in one direction or another, but there are preconditions that indicate that the gold may strengthen to the resistance of the correction channel before further falling. The fall may resume amid the beginning of the strengthening of the dollar index. Within the range and channel, it is worth using the range trading strategy and false breakout or bounce principles.

Resistance levels: 2344, 2365
Support levels: 2328, 2305

The bulls are resisting within the correction, this may strengthen the price to 2350-2360, but in general the correction and price decline may continue as the market is still in a huge imbalance and the price still has not reached the key liquidity areas.

Regards R. Linda!

Trade ist aktiv:

A double retest of 2344 prevents the price from passing. Bears are resisting.