Long

GOLD: Buy as long as the 4H MA50 provides Support.

The 4H MA50 (1,770.19) continues to hold as Support, see how none of the 4H candle yesterday closes below it despite having lower wicks and that keeps the price bullish within this Rising Wedge since the November 15th High. 4H technicals remain neutral (RSI # 48.530, MACD # 0.890, ADX # 25.727) and can swing either way but the 1D RSI is bullish # 59.363, so we have to favor the upside at least on the short-term. We've turned to buying again, targeting 1,810. If however the price breaks below the Rising Wedge's Higher Lows trend-line (1,759), sell and target 1,735. If selling continues, we should wait for Gold to test the 1D MA50 (1,705.26 and rising rapidly) and buy as it is the ultimate long-term Support. That is the plan at least on a 2 week basis. Let's also see how the DXY will react now that it hit its 1D MA200 Resistance (break will lead to the 1D MA50, bearish for Gold) while the US10Y shows no signs of rebounding (bullish for Gold).

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