Thu, 21 Jan 2016 14:29:11 GMT
XAU/USD 1H Chart: Channel Up
Gold prices are currently correcting lower inside a bullish channel in the one-hour chart. At the same time, any abrupt drops are likely to be avoided in the near-term, as long as XAU/USD keeps hovering above the 200-hour SMA, weekly pivot point and the green trend-line that are all placed around the 1,090 mark. Medium and long-term studies assume that