Gold moves out of the channel upwards. Gold breaks resistance at 1876 and the price breaks through to 1890.
1) The price breaks the resistance of the ascending channel - a signal for acceleration of growth.
2) On the smaller timeframe the price consolidates above the 1876 level.
3) It has the potential to grow up to 1890.
4) Preliminary pullback to the support level 1876 is possible.
On the condition of a pullback to support, we expect a retest in the form of a false-break. It is important to wait for the price to consolidate above the support and then buy. Similarly with the level of 1890
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