Gold Spot was identified at around 3328.9805 having recently rebounded of the support on the 1 hour data interval. Ultimately, the price action of the stock has formed a Channel Up pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 3445.2853 level.
Gold Spot is quickly approaching the resistance line of a Channel Up. We expect either a breakout through this line or a rebound.
