Capitalize on the Downtrend! Gold is currently retracing within a downward parallel channel, offering an enticing opportunity for traders. The price has reached the upper rib of the channel, indicating a bearish bias in the market. Recent developments, such as disappointing NFP numbers and positive wages and job data amidst a struggling labor market, have further fueled gold’s downward trajectory. FOMC minutes have highlighted concerns over inflation, suggesting the potential for interest rate hikes. Explore the strategies to navigate this bearish channel and unlock profit potential in the ever-evolving gold market!