XAUUSD Sell this pull-back, buy on the low.

Gold (XAUUSD) broke bellow the Inner Higher Lows trend-line (dashed) and is headed for the 4H MA50 (blue trend-line) again. The long-term pattern is a Channel Up but we see also a Diverging Channel Up that that formed the April 13 High. Sell this pull-back and buy when the 4H RSI hits the bottom of its Rectangle which has provided the previous 3 buy opportunities. This is likely to take place on the 4H MA100 (green trend-line). Our medium-term target on that projected bounce is 2055.

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