XAUUSD: Buy opportunity outside the consolidation zone.
Gold has found support last Thursday and the decline on 1D is put to a halt. 4H is now neutral (RSI = 51.980, Highs/Lows = 0.0000, STOCH = 53.271) and will continue to be as long as the price is being traded inside the consolidation channel shown on the chart. As long as this continues to provide support, and it later breaks upwards, we will be targeting 1,330 and 1,350 in extension. 1W appears to have completed its 0.382 Fibonacci pull back and is ready to resume the uptrend (RSI = 57.364, MACD = 14.730).
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