XAUUSD: Holding the 4H MA50 is heavily bullish.

15 ott

Gold is marginally bullish on its 1D technical outlook (RSI = 56.187, MACD = 0.002, ADX = 21.504) as it is consolidating and hasn't yet made a new High since September 26th. On the brightside however, it held again the 4H MA50, which establishes that level as the new support. When being on a Bullish Wave inside this 3 month Channel Up, every time it consolidated on the 4H MA50 after a bottom rebound, it never broke it and the Bullish Wave pushed it to a new HH. We expect a new +7.60% rally (TP = 2,800) to peak by early November.

See how our prior idea has worked out:

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