XAUUSD: Long opportunity as the MA200 approaches.

Gold is being aggressively sold this week with favorable news on the U.S. - China trade war negotiations acting as the catalyst. Technically it is a rejection on the 1,555 Double Top. The price action is identical with the June- July sequence, when Gold again looked for a final support on the 4H MA200 before starting the next strong rise (orange channel).

At the moment the price is getting close to that 4H MA200 test with very high probabilities of finding again a Support. With 1D neutral (RSI = 53.911, STOCH = 54.738, Highs/Lows = 0.0000), this is the most optimal short term buy level towards at least the 1,555 Top if not a Higher High (as it may again start a new strong rise).







** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.