Gold Analysis
Monthly
We can see clear breakout of the downtrend. XAU continued moving in an upward channel and broke the 137x supply zone.
Strong push up which had rejected at 160x demand zone
Weekly
On Weekly we can see the H+S formation within the channel which is now complete.
Daily
There was a touch and rejection off the Weekly channel which continued to form an ascending channel.
The ascending channel was broken and a higher high was made.
Strong rejection of the 16xx supply zone
I believe we should wait for a retest of the supply zone the look for sell.
We can see clear breakout of the downtrend. XAU continued moving in an upward channel and broke the 137x supply zone.
Strong push up which had rejected at 160x demand zone
Weekly
On Weekly we can see the H+S formation within the channel which is now complete.
Daily
There was a touch and rejection off the Weekly channel which continued to form an ascending channel.
The ascending channel was broken and a higher high was made.
Strong rejection of the 16xx supply zone
I believe we should wait for a retest of the supply zone the look for sell.
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