InvestingScope

XAUUSD: Medium term action plan.

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold is consolidating above the 1,451 Support but under the pressure of the Lower High trendline in red. We have the following plan: If the 1,451 Support breaks, we will sell towards the -0.236 Fibonacci extension which is at within 1,400 - 1,380. If the Lower High red trendline breaks to the upside, we will target the 0.382 Fibonacci at 1,550. It is worth noting that the 4H RSI is on a bullish divergence .



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