Gold declines after reaching a new historic high

Gold prices fell today after reaching a new historical peak near the levels of 3,871 dollars per ounce, after which there was a strong profit-taking down to the levels of almost 3,793 dollars.

Currently, gold is trading near strong support levels, which could push it to rise again near the levels of 3,830/40 USD / oz and then break through the top again down to the levels of 3,880 USD / oz near the upper limit of the ascending price channel.

The best buying zones are near the current levels as an initial entry level and then the lower boundary levels of the channel at the levels of 3,760 / 50 dollars per ounce.

This scenario fails if this channel is broken down by closing a candle today.