XJO, Gold, MOY and others, page-1206

XAU USD$ Gold - as expected we had a breakup however the short term momentum indicators have turned red so some sort of retest to fib levels is a possibility. on the 15 minute chart we see that there is resistance around the 48 day moving average (yellow line) ideally we would like price action to stay above that.


On the one hour chart below we see that the resistance is along the 200 hour moving average (purple line) with shorter term moving averages crossed and aggressively moving higher. a break above the 2oo hour moving average would be helpful for the bulls. price action being supported by the 9 hour moving average (green line)