XAUUSD SHORT ASCENDING CHANNEL FORMING!!!!

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MARKET ANALYSIS: The pair is trading near the major support near 1215 level. Now in the lower time frame there is a short term ascending channel that is being formed. Once if the channel is broken if support fails we may see a new lower low. To start a uptrend market must close above 1250.00 for a new long rally too start. So lets wait and see what the market does in the coming days. Cheers!