XAUUSD made new ATH. What's next?

605
Gold (XAUUSD) gave us an excellent buy signal last week (September 29, see chart below), easily hitting our 3860 upside Target:

XAUUSD targeting 3860 with the 1H MA50 supporting.


This time, the price is extending the Bullish Leg of the 3-week Channel Up, which according to the 1H RSI, should peak soon. The last two did so on the 2.0 Fibonacci extension.

That should take us to 3970, which would be right at the top of the Channel Up (Higher Highs). A 1H RSI Lower Highs rejection would be the sell signal, targeting the 1H MA100 (green trend-line), like both previous Bearish Legs did, at 3900.

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