Gold - bearish flag pattern and potential bearish continuation

hey guys,

XAUUSD is approaching a decent resistance area,
instant rejection of this zone with clear RSI divergence gives and indication of weakening bullish momentum.

if we see a bearish breakout of a rising channel,
with high probability the market will retest the low and continue even lower.

next level of support on focus will be 1260.

good luck!

Komentarz:

The market closed inside the rising channel

Komentarz:

and we finally see a breakout!

Komentarz:

almost hit the target