XAUUSD, M30
On the M30, XAUUSD formed a descending channel pattern in the short-term decline after ATH. Price reached the upper trend line and tested significant resistance and MA50. At the same time, a divergence has formed on RSI.
- If Gold breaks the trend line and MA50 above 2660, the upside will be to 2670 and then to 2682;
- A rebound from the trendline will drop XAUUSD to 2645;