XAU/USD Rising Wedge
Updated
On a 4H timeframe, the bulls have another run to retest the $1,870 psychology level, which falls between the 50% and 61.8% fib zone as revealed above in the 1W timeframe.
Technical traders could look for a short-term long position after the retest of the supply area at $1,824-5, targeting the top boundary of the rising wedge at $1,870.
Technical traders could look for a short-term long position after the retest of the supply area at $1,824-5, targeting the top boundary of the rising wedge at $1,870.
Note
Short term bullish setup went well - Even though the 61.8% fib got broken, the bearish bias is still very feasible.
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