Gold is rejected by the previously broken uptrend channel
On the Gold daily chart, we can see that the instrument is being rejected by the previously broken uptrend channel. This could lead to a downside continuation into the 1260 level which would be the strong uptrend support. Now only a daily close above 1310 will invalidate the downside scenario.
Note: look for the short trade entries with a stop loss above the 1310 level.
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