Gold Trend May Be Changing as Price Just Breached Below Its 20 Day Moving Average

3 mins read

The Hourly View for Gold At the moment, XAUUSD’s price is down $-3.96 (-0.23%) from the hour prior. Gold has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price,…

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