XAUUSD How to play the short term
The key level for Gold on the short term is the 1hour MA50. Above it buyers accumulate and will aim for the 1919.50 resistance to break the previous lower high. This keeps the trend bullish as it has been inside this month's bullish channel. Upper targets 1929 and 1940.
Below the 1hour MA50 Gold will seek to break the bullish channel and after a long time test the 1hour MA200. The 1hour RSI getting out of range is an extra signal.
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Below the 1hour MA50 Gold will seek to break the bullish channel and after a long time test the 1hour MA200. The 1hour RSI getting out of range is an extra signal.
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