FX.co ★ king.zelda | XAU/USD, GOLD

XAUUSD GOLD. Hello. Gold continues to move northward today as part of a correction, although there is a possibility of a reversal to the north. On the hourly chart, indicators are currently trying to signal a buy within the day, but it's still too early to talk about it. In any case, we need to wait for the end of the period first, and then for the activation of this signal. However, one of the basement indicators no longer supports a bullish sentiment, although the Bollinger Band has started to expand, hinting at the likelihood of the current upward impulse developing. The channel itself is built horizontally, suggesting movement within its range, with the pair near the upper end, so we may see a pullback towards the lower end, around 4500-10 in the short term. On the 4-hour chart, indicators still point south, so I still consider selling as a more priority option for myself. However, the sell signal has not been activated yet, and the pair has approached to test its middle from below. Therefore, the further sentiment will be more accurately shown depending on a breakout or bounce. There is also a possibility of forming a double bottom, in which case the selling will be canceled for a long time.