Gold Eyes Upper Channel Boundary

[johnblockbuster]

Gold (XAU) Price Performance. Source: TradingView

Gold’s price is testing the $4,381 high within a well-defined ascending channel. Momentum shows signs of waning, with the RSI rolling over from the mid-to-high 60s. Traders may anticipate a corrective pullback toward $4,265 or $4,193 (23.6%-38.2% Fibonacci) before a potential continuation of the bullish trend. The medium-term bias remains constructive.

[Nahid Hossen]

Upper channel tests usually decide momentum continuation.

[Abdul Khan]

Gold reacting here will guide short-term bias.