XAUUSD Short Term Retracement is in play
Gold overall in Bullish Trend but short term retracement is in play analysis in done on following points.
Bearish Indications:
1) Big Red Candle
2) Retraced from Resistance Level at 2060-2073
3) Triple Top formed
4) Fib 23% & 38% Targets are 1962 & 1896
5) Divergence on RSI & MACD
Bullish Indications:
1) Making Higher Highs
2) AB=CD Pattern Targeting 2150
Bearish Indications:
1) Big Red Candle
2) Retraced from Resistance Level at 2060-2073
3) Triple Top formed
4) Fib 23% & 38% Targets are 1962 & 1896
5) Divergence on RSI & MACD
Bullish Indications:
1) Making Higher Highs
2) AB=CD Pattern Targeting 2150