XAUUSD Will a Golden Cross on 1D emerge?

Gold is very close to form a Golden Cross on the 1D time-frame, which is when the MA50 (blue trend-line) crosses above the MA200 (orange trend-line). That is normally a bullish pattern. The opposite is the Death Cross (bearish) and was last seen on February 16. After it emerged, a short bounce took place but just a few days later the price collapsed to a new Low (12 month Low).

Can the Golden Cross provide a proportionate result, i.e. short-term selling followed by a new High. There are surely a lot of Resistances involved (see the Fibonacci retracement levels and the Lower Highs) but at the same time, the RSI is within a 3 year Support Zone, while the current pattern looks like a H&S while the opposite in November - January like a Inverse H&S.

What do you think lies ahead for XAUUSD?




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