Gold, in 4H Tech Analysis tarining with Ichimoku & Fibonacci look like this:
The XAUUSD pair consolidates near the uptrend KUMO and the price is above The Tenkan Sen (light green line) and Kijun Sen(blue line) too. There is nothing bearish here. The situation is very bullish because the Tenkan Sen(light green line) is above all, Kijun Sen(blue line) is above the KUMO and SPAN A(green line) is above SPAN B(red line).
MACD is bullish above the zero line.
RSI is bullish and looks forward to climb on overbought levels.
Fib projection from 1241 to 1283 now support from 1308 and resist on 1350.
The long term resistance line comes from the daily diagram I'll publish after this. Look at Linked related idea.
This long term resistance line will stop the uptrend until the XAUUSD breaks the triangle (look at daily diagram).
So I think that Gold will test the long term resistance line @ about $1360 before it declines. The 1360 will be the price that will show the next trend. The Gold will reach the $1360 sharply. Stop Loss 1312. The MACD on $1360 line will show a divergence if the Gold decline from there.
The XAUUSD pair consolidates near the uptrend KUMO and the price is above The Tenkan Sen (light green line) and Kijun Sen(blue line) too. There is nothing bearish here. The situation is very bullish because the Tenkan Sen(light green line) is above all, Kijun Sen(blue line) is above the KUMO and SPAN A(green line) is above SPAN B(red line).
MACD is bullish above the zero line.
RSI is bullish and looks forward to climb on overbought levels.
Fib projection from 1241 to 1283 now support from 1308 and resist on 1350.
The long term resistance line comes from the daily diagram I'll publish after this. Look at Linked related idea.
This long term resistance line will stop the uptrend until the XAUUSD breaks the triangle (look at daily diagram).
So I think that Gold will test the long term resistance line @ about $1360 before it declines. The 1360 will be the price that will show the next trend. The Gold will reach the $1360 sharply. Stop Loss 1312. The MACD on $1360 line will show a divergence if the Gold decline from there.
