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Investors expected gold to behave differently. The reddit turmoil resulted in a slight price boost, but ultimately nothing bigger came out of it. As a long-term asset, gold remains in a downward trend. The wide channel that has been created is still respected. In the long term, I marked on the second image the level of the support zone and the border of the designated channel. In this way, I had this channel designated from the beginning and I returned to this form because it coincides with other levels. For a while it was changed to a wider one, and if the price breaks I will take it into account, but the original version shows more reversal points.
We currently have a reaction to the local trendline, but I do not think the upward break will be sustained due to the optimistic data for the dollar, which has been seen since last week.
