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Is The End of Gold's Channel Potentially In Sight?

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Gold saw some gains last week but ultimately failed to form a convincing trend and break free from its sideways channel. The metal closed the week up at 1239.99 but was prevented from testing the upper constraint of the channel by better than expected US ISM non-manufacturing PMI and unemployment results. However, a slew of US results coming out this week could certainly generate the requisite momentum to challenge the current channel constraints. Gold’s recent uptick comes as a result of the

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