after
After testing the historical peak areas of 2070, gold rebounded to the downside. The price is trading in the general bullish direction, forming a blue-colored ascending channel over the four-hour time frame.
The price is currently consolidating at the 2000 support area and the lower trend area of the channel, from which an upward retracement is expected with the general bullish trend and an expected bullish wave, waiting for buying opportunities to form.
If the price breaks this area downwards, it trades downwards towards the buying areas marked in blue 1980 and 1958.
From above, the most important selling areas are the supply area in red 2040, and the peak areas 2050 and 2070.
While gold is trading in a general upward trend, it can penetrate historical peaks and form new peaks at any time.
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