Gold has been in the ascending channel since the second half of 2022.
We have seen 2 small falling channel formations within this huge channel and we are currently experiencing the 3rd falling channel formation.
We can understand that we have come to the end of this small falling channel, so we have come to the support of the rising channel.
The rejection of gold from these levels will indicate that it is entering a potential bull run.
As we can analyze from the Fibonacci time zone indicator, this run has the potential to continue until mid-July.
Breaking the ascending channel and falling below the $1900 level will invalidate this analysis and stop it.
We have seen 2 small falling channel formations within this huge channel and we are currently experiencing the 3rd falling channel formation.
We can understand that we have come to the end of this small falling channel, so we have come to the support of the rising channel.
The rejection of gold from these levels will indicate that it is entering a potential bull run.
As we can analyze from the Fibonacci time zone indicator, this run has the potential to continue until mid-July.
Breaking the ascending channel and falling below the $1900 level will invalidate this analysis and stop it.