Gold is currently showing bullish market directionality on the 4 hour chart. Per observation of the chart we can see the bullish structure, coupled with price trading above the 50 SMA and settling in the bullish territory of the RSI. Gold is currently in a retracement and could potentially find support at the break and retest level at $3326 before continuing its bullish trend. Will be tracking this market to see how price reacts to this $3326 level at a 1hour/15min timeframe, as well as awaiting potentially news release which could cause a pivot at this particular level
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.