GOLD – Overview of the global situation. On the chart I saw the global uptrend and the price movement in the channel, which began fresh formation since 2015. Pay attention to the price reaction to the support of the channel – it is very strong and forms strong movements in one direction or another.
Also, I marked the range 2075-1677, two identical impulses from resistance marked the global range, the price continues to trade in this direction. A pullback to support is forming. And this zone is quite strong, if you consider how the price previously registered on the upward support line (channel support)
The important level on the chart is 1677, which is a huge liquidity zone, and I think that in the mid-term we will see the price reach that area. And after the retest, perhaps, it will start its recovery.
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