XAUUSD is the process of forming triangle pattern. The price is now hovering around recent resistance of 1286.
The resistance and support of the triangle is 1303 and 1277/1278 respectively.
with regard to the stochastic indicator and MACD in H4 Chart, the MACD is still under 0 axis, showing the short bias, but what need to pay attention is that the MACD is running close to 0, which showed the short strength is weakening. Stochastic indicator has gone out from the oversold zone, indicating that the price is on attempts to go up a little.
Current bias: Neutral.
The resistance and support of the triangle is 1303 and 1277/1278 respectively.
with regard to the stochastic indicator and MACD in H4 Chart, the MACD is still under 0 axis, showing the short bias, but what need to pay attention is that the MACD is running close to 0, which showed the short strength is weakening. Stochastic indicator has gone out from the oversold zone, indicating that the price is on attempts to go up a little.
Current bias: Neutral.