XAUUSD on the verge of price explosion to $3800.

Gold (XAUUSD) has been trading within nearly a 2-year Channel Up. Despite the red start to this week, we have had a strong bullish confirmation signal prior, as the price hit and rebounded on its 1D MA100 (red trend-line).

The 1W MA50 (blue trend-line) may be the Channel's natural Support throughout all this time but its the 1D MA100 that every time it's been touched, it initiated the pattern's technical Bullish Legs.

As you can see this always takes place after an Accumulation/ Consolidation period and the minimum rise it has produced was +18.53%.

If we repeat this bear minimum, we are looking at a $3800 Target before the end of the year.

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