The yellow metal jumped on Wednesday, as expected. However, something has changed during the last 24 hours.
The surge of the yellow metal continued during Wednesday morning hours.
As expected, the commodity price has found support in the lower trend line of the medium scale ascending channel pattern.
The bullion has continued to lose value, as expected. However, the metal's price on Monday was showing signs that the decline might be over.
The bullion found strength in hourly support levels and has returned to trade back near the 1,270 mark.
The decline of the bullion, as expected, continued during early hours of Thursday's trading.
On Wednesday morning the yellow metal was in a retreat. The fall of the bullion was
The surge of the bullion continues, as the metal has established itself firmly at the 1,270 mark.
The yellow metal continues to gain on Monday.
The yellow metal's price continues to trade above the 1,260 mark. The reason for that is
The bullion has surged above the 1,260 mark. The reason for that is the FOMC Statement.
The decline of the yellow metal continued on Wednesday. Moreover, it is most likely going to continue in the short term.
The yellow metal has bounced off the monthly pivot point, which was described previously.
In line with expectations, the new trading week the yellow metal started above the 1,250 mark.
The bullion has found support and has been propelled higher by fundamental events.
The decline of the yellow metal has extended, as the bullion has reached levels below the 1,240 mark.
The Bullion has met with various resistance levels, which have pressured it into a decline on Wednesday morning.
A recently adjusted line on the hourly chart of the yellow metal is creating a notable resistance for the commodity price.
The patterns of the XAU/USD charts have been broken by a fundamental change in the US.
The hypothesis that the previously active ascending channel pattern remains in force has been confirmed on Friday morning.
The metal is not continuing perfectly in accordance with the previous forecast. However, the gains are even larger than expected for most traders.
The bullion follows the path, which has been forecasted.
As it was expected, the metal's price has rebounded against the lower trend line of the descending channel pattern.
The yellow metal is bouncing around just above the lower trend line of the medium term descending channel pattern.