On the 4-hour chart, XAUUSD is trending upwards, with bulls holding the upper hand in the short term. Currently, watch for support around 5120; a pullback that holds above this level could lead to further gains, with an upside target around 5460. When the price reaches around 5460, watch for a potential bearish bat pattern.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.