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XAUUSD Short term pull back initiated.
Gold has been rejected at the top of the 6 month Channel Up.
A similar rise in magnitude (+11%) took place on the first bullish leg of this Channel Up and then pulled back to the 1day MA50 and hit the 0.382 Fibonacci level.
The 1day RSI is already on a Bearish Divergence.
Sell and target 2115 (0.382 Fib) for the short term.
Previous chart:
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A similar rise in magnitude (+11%) took place on the first bullish leg of this Channel Up and then pulled back to the 1day MA50 and hit the 0.382 Fibonacci level.
The 1day RSI is already on a Bearish Divergence.
Sell and target 2115 (0.382 Fib) for the short term.
Previous chart:
Follow us, like the idea and leave a comment below!!
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