XAU/USD H8 Analysis

٩ نوفمبر

After printing an all time high at circa $2790 per troy ounce last month, Gold has been making a steady decline over November. The bullish run could previously be seen in an upward channel, but with price now breaking out and closing below the channel, we could be now looking a change of sentiment.

At the end of last week, Gold was looking to be retesting the bottom of the channel. In the new trading week, we could see a further decline in price as the sellers authority continues to take control of the market.