GOLD The 1D MA50 held! Potential rally ahead.

Gold has completed a series of successive touches on the 1D MA50 (blue line) without breaking it. Ever 1D MA50 contact since March 31 has initiated aggressive rallies (+11.50% and +24.30% respectively) within the Channel Up. Additionally, the MACD about to make a bullish cross for the first time since June. Coincidentally that was when (roughly) the price last rebounded on the 1D MA50.

Assuming the less optimistic scenario of a +11.50% rally takes place, that puts XAUUSD's target at $2130. Do you agree or is it far fetched?



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