Gold follows strong upward momentum
Updated
XAUUSD further tests the uptrend line as support as it dips below the line briefly early in the session to a new trend low of 1,932, before rallying to a three-day high.
It is on track to complete the day at its highest daily close in at least four days.
Support around the uptrend line is strengthened by its convergence with the 50% retracement and completion of a falling ABCD pattern with the CD target extended by 127.2% (1,943).
Gold Rising into Several Resistance Areas
Gold will be approaching several potential resistance areas on the way up if it can keep going. First, is the prior swing low from mid-April at 1,969. A little higher is the 34-Day EMA at 1,979, followed by a weekly high at 1,985 along with the 38.2% Fibonacci retracement at 1,989.
𝖷𝖠𝖴𝖴𝖲𝖣 BUY LIMIT 1952 1955 💯💯
✅𝖳𝖯1 1960
✅𝖳𝖯2 1965
✅TP3 1970
🛑𝖲𝖫 1945
Full TP - SL to beat the market
It is on track to complete the day at its highest daily close in at least four days.
Support around the uptrend line is strengthened by its convergence with the 50% retracement and completion of a falling ABCD pattern with the CD target extended by 127.2% (1,943).
Gold Rising into Several Resistance Areas
Gold will be approaching several potential resistance areas on the way up if it can keep going. First, is the prior swing low from mid-April at 1,969. A little higher is the 34-Day EMA at 1,979, followed by a weekly high at 1,985 along with the 38.2% Fibonacci retracement at 1,989.
𝖷𝖠𝖴𝖴𝖲𝖣 BUY LIMIT 1952 1955 💯💯
✅𝖳𝖯1 1960
✅𝖳𝖯2 1965
✅TP3 1970
🛑𝖲𝖫 1945
Full TP - SL to beat the market
Note
🚀🚀🚀Running +50Pips . Move SL to EntryNote
🚀🚀🚀HIT TP2 Close All +90Pips ✅ ✅ ✅
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