XAUUSD: Crossed the 4H MA50 and starting the rally to 2790.

19 nov

Gold is neutral on its 1D technical outlook (RSI = 45.921, MACD = -20.360, ADX = 41.087) validating the significant upside potential it has inside this Channel Up. On Thursday it bottomed on the HL trendline and today crossed over the 4H MA50. Every time it has done so on this pattern (only once it failed), it hit the R1 level. Consequently this gives a clear target on the previous high (TP = 2,790).

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