Gold can reach resistance line and start to decline in channel

Hello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some days ago entered to upward channel, where it first broke the 2025 support level, which coincided with the buyer zone and declined below even this zone. After this, XAU turned around and started to move up near the mirror line inside the upward channel, after which the price soon broke the 2025 level one more time and then made retest. Then Gold continued to grow in the channel, between the mirror line and soon it reached the resistance line of the channel, after which price in a short time declined lower the mirror line. After this movement, Gold some time traded below, after which it finally reached the current 2200 support level, which coincided with the support area and broke it. Soon, the price broke the mirror line too, and at the moment price continues to rise near this line, close to the resistance line of the channel. So, in my opinion, Gold can rebound up from the mirror line to the resistance line of the upward channel and then the price will start to decline to the support line, breaking the mirror line. Therefore I set my target at 2235 points. Please share this idea with your friends and click Boost 🚀