XAU/USD (GOLD) 4H Potential BUY Setup

Gold re-entered the ascending channel formation and retested the upper edge. The next downside target is 1392 zone which is the weekly support.

This morning The price action is testing 1372-1386 zone. There is a chance we could observe action from this zone. This is despite daily price selling from supply at 1448.9-1419.9, and showing space to press as far south as support at 1356.8.

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