Description
⋅ XAUUSD weekly
Reaction target reached, somewhat overbought, above 50 sma, convergence.
Staying above 50sma, downtrend line Channel, uptrend channel, MACD bullish. 50%-61.8% support area, potential targets :
a) 1391, b) 1433. ( 100 sma, 17/3 high )
RSI within ascending channel, note: negative divergence occurrences(red), close to breaking the 2011 downtrend line.
24/6/2013 bottom at 1179. 30/12/2013 double bottom.
time 7/7/2014 price 1300(Support).
Targets : a) 1391, b) 1433.
Supports : *1300, 1284, 1260