Gold, in 4H Tech Analysis Training with Fibonacci projections look like this:
The XAUUSD pair reacted from an older fib measurement at 1 of fib @ 1280. As you can see in diagram, Gold seems to follow these fib levels from April.
MACD turn bullish w/divergence and RSI is near 50. All these bullish signs are weak concerning that it is under the KUMO (i did not show it here because the diagram would not be clear) and MACD under the zero line.
Fib projection from 1384 to 1278 has the 0.764 (1303) as a resistance of next level. Exactly where EMA 200 resists too.
Long above EMA 200 (1303) (stabilized 4H) - Short below 1278.
The XAUUSD pair reacted from an older fib measurement at 1 of fib @ 1280. As you can see in diagram, Gold seems to follow these fib levels from April.
MACD turn bullish w/divergence and RSI is near 50. All these bullish signs are weak concerning that it is under the KUMO (i did not show it here because the diagram would not be clear) and MACD under the zero line.
Fib projection from 1384 to 1278 has the 0.764 (1303) as a resistance of next level. Exactly where EMA 200 resists too.
Long above EMA 200 (1303) (stabilized 4H) - Short below 1278.
