Gold getting ready for the next rally
#XAUUSD:
(1D):
We still have a strong bullish trend in place. Recently we saw the break and retest of the continuation pattern here above. Given these technicals and the overall fundamental uncertainty across the globe, my bullish bias remains unchanged.
(4H):
A better view of bulls gaining strenght is given by the ascending channel formed on the 4H, with price currently at the lower border, preparing the next rally.
(1H):
This is confirmed on the lower timeframe, as we can notice that buyers are making higher highs but sellers are not able to push the price, making equal highs. What we want to see, is a break and retest of the ascending channel. This would give us a nice buy signal
(1D):
We still have a strong bullish trend in place. Recently we saw the break and retest of the continuation pattern here above. Given these technicals and the overall fundamental uncertainty across the globe, my bullish bias remains unchanged.
(4H):
A better view of bulls gaining strenght is given by the ascending channel formed on the 4H, with price currently at the lower border, preparing the next rally.
(1H):
This is confirmed on the lower timeframe, as we can notice that buyers are making higher highs but sellers are not able to push the price, making equal highs. What we want to see, is a break and retest of the ascending channel. This would give us a nice buy signal
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