1940 is a very important pivot

The 1940 area is a very important level in the gold chart structure

We have two possible scenarios for gold

The first scenario is the green scenario: which is more likely in the current situation: the price conflict with the 1940 level and its failure and the rise to 1980 and possibly to the red midline.

The second red scenario: the price will pull back to the ceiling of the upper channel and return to the bottom of the channel