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XAUUSD – MCS at Top of Bull Trend (Daily chart)
Gold has been in an uptrend since Q2 last year and has now formed a MT corrective structure at the highs of this trend since January this year. This structure has also formed right below a LT key resistance.
The price action above is corrective at the moment, but a strong bullish breakout of this structure could potentially open up for a move to 1400 which is the next LT resistance to look out for.
For now, pullbacks into the bottom of the corrective structure, can present bulls with potential …... Keep reading