The monthly chart of XAU/USD (Gold Spot) reveals a long-term

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This is a monthly chart of XAU/USD (Gold Spot), displaying a long-term ascending channel.

Key Observations: 1. Price is at the channel's upper boundary, around $2,874.

2. Potential resistance at around $3,202, indicated by an upward arrow.
3. Previous price activity indicates respect for channel boundaries**, implying that a pullback from resistance is possible.
4. Support zones** range from $2,767 to $2,861, with a substantial lower trendline support between $2,099 to $1,911.

Possible scenarios: - If trend continues, gold may reach $3,200 before correction.
- A rejection from the upper channel might result in a retracement to $2,767-$2,861.
Breakout above $3,200 may indicate a strong bullish trend.

Penafian

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