Chart of the day

XAUUSD is reaching the top of the long-term channel 2335. This is now a strong resistance for the upside continuation as the XAUUSD broke above the multi-year congestion 2100 fast and without a retrace.

Only in the case of a break above 2335, we could see an immediate upside extension. A confirmed break below 2200 is required for the downside reversal and a retest of the 2060.

_{Look for the short trades here with the stop loss above 2335. Long trades you can take in the case of a confirmed price action break above 2340.}