XAUUSD-4 Hr Long

2023年2月17日

Gold price has fallen since the last 2 weeks. However, it is still considered an uptrend on the daily timeframe. The current price touch the support zone (4HR TF) and on the lower TF, it shows a small price rejection. In addition, today is Friday, therefore the price should go backward to where it should be. if it breaks the zone, the best next target should be about 1788 zone

Long because
-Date : Friday
-Price : Support level ( 4HR TF )
-Indicator : RSI Divergence ( 4HR TF )
-Indicator : EMA is below ( 1D TF)

Note : Base on the price momentum, the price may keep falling down. If it breaks this zone, the next major key level will be about 1788 where it touch the daily EMA and support zone (4HR TF)

Golduck everyone !