XAUUSD bull run might occur at any time
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as you can see XAUUSD has a clear uptrend since 17 march 2020.
And it the last fourty days the price hit this support several times failing to break it down.
If you zoom into the 1hr time frame, you can see clearly a bullish flag forming with a potential inverted head and shoulders formation.
First target is 1840 (if price break 1932, we could have a clear move towards 1840 whish is the resistance of the flag.)
then if we could see a strong bullish momentum close above 1842, XAUUSD might reach 1860. and from there we have to watch carefully the price action before deciding the long term position.
as you can see XAUUSD has a clear uptrend since 17 march 2020.
And it the last fourty days the price hit this support several times failing to break it down.
If you zoom into the 1hr time frame, you can see clearly a bullish flag forming with a potential inverted head and shoulders formation.
First target is 1840 (if price break 1932, we could have a clear move towards 1840 whish is the resistance of the flag.)
then if we could see a strong bullish momentum close above 1842, XAUUSD might reach 1860. and from there we have to watch carefully the price action before deciding the long term position.
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