Gold is rising 11.6% from the Triple Bottom pattern that was formed.
As we saw, the price within the downtrend respected the boundaries of the downtrend price channel . The reversal pattern was formed on the support of the range
Since early November, when the third confirmation of the bottom was made, the gold has recovered from the low to almost $1800 (by 11.6%). Following that, gold is breaking up the resistance of the downtrend channel after a two-week retest
The price is above the uptrend line formed since August 2018. Gold is now in the long zone of the new 1775-1878 range. The trading instrument opens for itself a new upside potential. Important targets: liquidity zone 1850, resistance 1878 and liquidity zone 1900
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