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Hello my dear fellow community members,
Please refer to my blog post on 07 March 17 regarding a pullback expected at the GOLD price. The XAUUSD has broken below from a rising trendline. A pullback is expected to 1218 and a better pullback can take it to 1260. I shall look to sell at 1218 if I see weakness. If it breaks 1218 on upside then I shall look for weakness at 1260 levels to sell it. Here is the chart showing the setup.
XAUUSD DAILY CHART
Please refer to my blog post on 07 March 17 regarding a pullback expected at the GOLD price. The XAUUSD has broken below from a rising trendline. A pullback is expected to 1218 and a better pullback can take it to 1260. I shall look to sell at 1218 if I see weakness. If it breaks 1218 on upside then I shall look for weakness at 1260 levels to sell it. Here is the chart showing the setup.
XAUUSD DAILY CHART
- RSI is turning up.
- Stochastic is oversold and turning.
- MACD is falling and Histogram is negative suggesting a pullback only.
