Mon, 27 Oct 2014 08:39:44 GMT
XAU/USD 1D Chart: Channel Down
Since XAU/USD approached 1,400 in March, the bears have been in control of the market—the price has declined beneath the 1,250 level. However, considering there has just been a successful test of the lower boundary of the emerging downward channel, in the near-term the gold should prove to be bullish. The rally is expected to reach 1,300 before making a