XAUUSD: Technical pull back after bullish breakout. Buy.
Gold made the expected bottom and rebound on the 1D MA100 and crossed over the LH of the May corrective wave. It also broke over the 4H MA50 with technicals turning bullish just before today's pull back that brought them back to neutral (RSI = 44.078, MACD = 2.520, ADX - 28.652). This is a standard technical pull back for Support retesting after a bullish breakout. The price remains inside the High Fluctation Zone of 1,951 - 1,984.65.
The 4H RSI is nearing the bottom of its Channel Up and that is an early buy signal for XAUUSD. If the price bottoms here and forms a Channel Up then we will buy and target its top (TP = 2,000).
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The 4H RSI is nearing the bottom of its Channel Up and that is an early buy signal for XAUUSD. If the price bottoms here and forms a Channel Up then we will buy and target its top (TP = 2,000).
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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