Gold is trading inside a Channel Up on the 4H timeframe since the Nov 12th low. Stable bullish technical outlook on 4H (RSI = 66.543, MACD = 8.550, ADX = 30.155), which calls for an extension of the current price action which is at the bottom of the Channel Up currently, to a new HH. We aim at a +1.96% rise (symmetrical with previous bullish legs), TP = 2,030.
Sell if the 4H MA50 breaks (current Support) and target the 4H MA200, our current projected TP = 1,975 but will change depending on when the breakout happens.
See how our prior idea has worked:
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