FX.co ★ Analysis for Gold February 28, 2022 - Breakout of the rising channel

Trading reccomendation:

Based on the 4H time-frame, I found that there is the breakout of the rising upside channel, which is strong worning for potential break of upside trend and start of new down cycle.

My adice is to watch for potential selling opportunities on the rallies with the downside objectives at the prie of $1.880 and $1.851.

There is strong resistance level at the price of $1.932 and at the price of $1.973

Additionaly, there is the filled up gap in the background, which is another sign for the weaknes....