Gold is moving between support and resistance of a falling broadening channel (pink lines)
Decision point: whether it'll break and stay above the very historic horizontal resistance(bold purple) OR not. If it can, then the target is 1800~, if it fails to breakout, then 1650~ areas are the targets to be tested.
Since gold is losing some portion of it's market to bitcoin. Breaking above the line will be very positive for gold, as succeeding it is challenging.
Decision point: whether it'll break and stay above the very historic horizontal resistance(bold purple) OR not. If it can, then the target is 1800~, if it fails to breakout, then 1650~ areas are the targets to be tested.
Since gold is losing some portion of it's market to bitcoin. Breaking above the line will be very positive for gold, as succeeding it is challenging.