XAUUSD
XAUUSD is starting to narrow its range and seems to be forming a symmetrical triangle. If this triangle is fulfilled, there is a chance that GOLD will rise through the resistance towards 1733.380. However, with MA8 starting to slope along with MA20, Support 1701 will determine whether Loco can fulfill its pattern and strengthen its uptred. In MA Pattern, GOLD is still uptrend with a reversal point at 1678.
Take profit first at 1711.380 because the price looks to be maneuvering today.
R3 1733.380
R2 1723.590
R1 1715.240
PV 1709.430
S1 1701.750
S2 1697.800
S3 1685.570
XAUUSD is starting to narrow its range and seems to be forming a symmetrical triangle. If this triangle is fulfilled, there is a chance that GOLD will rise through the resistance towards 1733.380. However, with MA8 starting to slope along with MA20, Support 1701 will determine whether Loco can fulfill its pattern and strengthen its uptred. In MA Pattern, GOLD is still uptrend with a reversal point at 1678.
Take profit first at 1711.380 because the price looks to be maneuvering today.
R3 1733.380
R2 1723.590
R1 1715.240
PV 1709.430
S1 1701.750
S2 1697.800
S3 1685.570