Xauusd weekly chart
From a technical perspective, the overnight bounce and the subsequent move up on Friday validates the near-term positive outlook for the Gold price. That said, the Relative Strength Index (RSI) is flashing slightly overbought conditions on the day chart and warrants some caution for bullish traders. Hence, it will be prudent to wait for some near-term consolidation before positioning for an extension of the recent well-established uptrend from the December monthly trough.
Gold signal
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Gold signal
t.me/ProTrader_9
My Channel Link
t.me/ProTrader_9
Check My Performance
t.me/ProTrader_9
My Channel Link
t.me/ProTrader_9
Check My Performance
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.