XAUUSD: Buy opportunity emerging inside the Channel Down.

21 Haz 2023

Gold is approaching the bottom of the monthly Channel Down, in fact it has made a double hit on the 0.236 Fibonacci level. If S1 breaks, wait for a buy at 1,915 (exact Channel bottom) and TP = 1,947.50, but with 4H technicals nearly oversold (RSI = 35.662, MACD = -5.130, ADX = 48.938) and the 1D RSI approaching 40.000, buy now as long as the price stays over S1 and target the 0.786 Fibonacci level (TP = 1,950).

See how the 4h RSI is well inside the Buy Zone, which has gave accurate buy signals since May 25th.

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