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XAUUSD rallying on its new short-term Bullish Leg.

Gold (XAUUSD) has been trading within a Channel Up exactly since the start of the new year. Friday's pull-back saw the price it the bottom of this Channel Up (Higher Lows trend-line), exactly on the 1H MA200 (orange trend-line) and the 0.382 Fibonacci retracement level from the last Higher High.

This is the exact same pattern it followed on the first Bullish Leg. As a result, we expect another +5.30% rise in total, targeting $4775 before another correction to the 1H MA200 (and 0.382 Fib) at $4685.

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