Last week, I discussed how Xauusd (gold) was testing the top of a long-standing descending channel.

In many ways, this pattern hinted at a bull flag starting from the 2018 lows.

That’s when XAUUSD started its parabolic move from $1,160 to $2,075.

With gold now firmly above the $1,850 area, it seems buyers are willing to push the envelope.

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