Gold - 1H - Monday 12 March 2021 - intraday scenarios

GOLD

Price rejected resistance near the 50EMA at $1744.
Price rejected both 100EMA and 200EMA bouncing back up from support at $1731.

scenario 1: price might breakout from the mini bullish channel breaking through the EMAs' aiming to touch $1760.

scenario 2: price might range between the 20EMA resistance and the 200EMA support.

scenario 2: price might continue within the mini downtrend channel then breaking above to find resistance at the 100EMA and support at the 200EMA.

-disclaimer: this information is not a recommendation to buy or sell. I encourage you to trade carefully.