Gold took a bullish stream last week as it made a massive price action of a bullish price action. The H4 candle was a strong bullish one which needs a recreation for another markup. On a lower time frame, market is now ranging. At the support level of 1922, we are looking to go long. The profit target will be at 1930. The structure is bullish on gold right now. 

The descending trendline has broken out for buys and the price action has been validated. Now, the market only needs to further fuel up to continue track.

As the market is ranging, there is no retracement on it. 

EMA 50 is bullish and the EMA 50 is blanketing the price action and has the potential to continue moving up.

RSI is at 60. This needs to be neutralized at the 50 level. Once this happens, it will be aligned with the technical factors.

Trendline breakout buy on gold

Sep 18 2023