Gold Price Tests Upward Channel Support
Looking at the current gold price chart, I see that the price is in a stable upward channel, with support near the 34-day EMA and the lower trend line. Gold is currently correcting near the lower boundary of the channel around $2,670, and this could be a key point to watch to see if the price bounces.
If the price holds and recovers from this area, I think the next target would be the $2,800 area at the upper boundary of the channel.
If the price holds and recovers from this area, I think the next target would be the $2,800 area at the upper boundary of the channel.
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