XAUUSD Channel Up at the limit

Gold (XAUUSD) is now at the bottom (Higher Lows trend-line) of the 1-month Channel Up. It has been closing above the 4H MA50 (blue trend-line) since December 28, above the 4H MA100 (green trend-line) since December 15 and above the 4H MA200 (orange trend-line) since November 04! Needless to say, a closing below each MA would target the one below it.

As long as the Channel Up and 4H MA50 hold, we see a recurring +3.00% rise, three straight times, which at the moment targets 1955, where the April 22 2022 High was formed. The 4H RSI being on its Support Zone, is also a buy signal for as long as it holds and a sell if it breaks.


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