GOLD(XAUUSD):

As per the daily time chart, GOLD bounced up from the lower boundary level 1782 of the support zone. It made a false break at the bottom of the declining channel.

On the H4, it has started moving up in a smaller rising channel within the larger declining channel.

It is expected to reach the channel’s top zone resistance between 1892-1917.

It is to be noted that the Fib expansion level of 200% is at1905 which perfectly fits in between the above-mentioned resistance zone.

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