Indices and commodities
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GOLD
Short
Gold Downside Setup Toward $3,850
Rationale
TradingView idea: XAUUSD: 4H Bearish Cross kickstarting major correction. for FX_IDC:XAUUSD by InvestingScope
TradingView symbol: XAUUSD
Gold turned neutral on its 1D technical outlook (RSI = 48.991, MACD = 11.670, ADX = 28.570) as it gradually fell from its late August High and last Friday it formed a 4H MA100/200 Bearish Cross. That was the first such formation since May 12th, which was a similar LH decline that led to an aggressive bearish wave that made a new LL. Expect the next LL to test the 1W MA100 (TP = 3,850).
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