XAUUSD: Gold trades sideways and can continue to be bullish
Updated
Gold is now oscillating sideways, ready to go, and can remain bullish!
The decline of gold was supported by the lower Bollinger track of the daily line, and it did not continue to fall. Moreover, the positive line directly pulled up yesterday, breaking through the pressure of 1940! After the breakthrough, the pressure turned to support. Today's sideways fluctuations saw no obvious counterattack by the bears, and they still maintained above 1940! It shows that bulls take the initiative!
The current sideways movement is actually to gain momentum for another rise, waiting for a new pull-up, just rely on the support of 1940 to continue to be long and bullish. For pressure from above, focus on the 4-hour Bollinger Track 1965 line!
The decline of gold was supported by the lower Bollinger track of the daily line, and it did not continue to fall. Moreover, the positive line directly pulled up yesterday, breaking through the pressure of 1940! After the breakthrough, the pressure turned to support. Today's sideways fluctuations saw no obvious counterattack by the bears, and they still maintained above 1940! It shows that bulls take the initiative!
The current sideways movement is actually to gain momentum for another rise, waiting for a new pull-up, just rely on the support of 1940 to continue to be long and bullish. For pressure from above, focus on the 4-hour Bollinger Track 1965 line!
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