Hello my dear fellow community members,

Please refer to my blog post on 07 March 17 regarding a pullback expected at the GOLD price. The XAUUSD has broken below from a rising trendline. A pullback is expected to 1218 and a better pullback can take it to 1260. I shall look to sell at 1218 if I see weakness. If it breaks 1218 on upside then I shall look for weakness at 1260 levels to sell it. Here is the chart showing the setup.

XAUUSD DAILY CHART
  • RSI is turning up.
  • Stochastic is oversold and turning.
  • MACD is falling and Histogram is negative suggesting a pullback only.
Happy trading.
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