Please see our updated 1H chart levels and targets.
We have already had a nice test on the channel bottom also inline with 1957 XauUsd support for a bounce up up to 1977 XauUsd resistance. We have a candle body close above 1977 leaving a immediate gap target to 1990 XauUsd . EMA5 cross and lock will solidify this gap confirmation. This target is also inline with ma200 touch.
We have also updated a retracement range for a potential reset also inline with the channel half-line. We are expecting some ranging movement within the channel up and down and will wait patiently for a break and close above the channel top or bottom for a breakout to the next range.
We will continue with our plans to buy dips and track the movement level to level with our EMA5 cross and lock confirmation and our algo generated targets.
Our long term projection still remains Bullish.
BULLISH TARGETS
1990 - Pending
EMA5 CROSS AND LOCK ABOVE 1990 WILL OPEN 2006
BEARISH TARGETS
1965 -Pending
1957 -Pending
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