Gold has completed a series of successive touches on the 1D MA50 (blue line) without breaking it. Ever 1D MA50 contact since March 31 has initiated aggressive rallies (+11.50% and +24.30% respectively) within the Channel Up. Additionally, the MACD about to make a bullish cross for the first time since June. Coincidentally that was when (roughly) the price last rebounded on the 1D MA50.
Assuming the less optimistic scenario of a +11.50% rally takes place, that puts XAUUSD's target at $2130. Do you agree or is it far fetched?
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Assuming the less optimistic scenario of a +11.50% rally takes place, that puts XAUUSD's target at $2130. Do you agree or is it far fetched?
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
Shout-out to TradingShot's top TradingView Coin donor this week ==> CITIZENCAINE
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