Gold created a series of lower highs and lower lows for nearly a decade (early 1990s to early 2000s). This price action created a 10-year falling channel. Once gold broke above this falling channel at (1), it experienced a strong rally for years to come.
Over the past 10-years, Gold looks to have created another falling channel. The rally over the past few years has gold testing the top of another 10-year falling channel.
If gold succeeds in breaking above the top of this channel, which currently comes into play as resistance, it will send a positive bullish message to the metal.
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