XAU/USD formed a Channel Down on the 4 hour chart. Retest of support in sight.

A potential bullish movement on XAU/USD
XAU/USD was identified at around 1998.05 having recently rebounded of the support on the 4 hour data interval. Ultimately, the price action of the stock has formed a Channel Down pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 2016.3414 level.

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