DeGRAM | GOLD downward structure

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GOLD is moving in a descending channel under the trend lines.

The chart has formed a descending structure.

The price has reached the upper boundary of the channel and is now holding under the 50% retracement level.

We expect a decline.

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ملاحظة

GOLD held in the previously discussed ascending channel.

The chart retains the descending structure.

The price has dropped under the support, which now acts as a resistance level.

We expect the price to decline after the resistance is retested.