Yesterday, the market went higher even though it made a pullback into the range zone after rejection. XAUUSD failed to move higher and pushed back. I think the market may retest the resistance, then go down to recent support levels, breaking through the upward channel border. The market formed a long-tailed bar on the daily timeframe, which suggests the bulls don't have the strength to make a new high. I expect the price to move lower, potentially testing the previous week's low. My goal is the support level at around 2148.
📊QUICK FUNDAMENTAL LOOK
Metal prices are mixed, with gold making small gains but generally trading in a narrow band as the dollar consolidates. Gold futures rise 0.1% to $2,180.3 a troy ounce. The dollar has slightly risen on increasing nervousness before Friday's U.S. core personal consumption expenditure print, with traders preparing for a potential bad surprise in advance
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