FX.co ★ XAU/USD, GOLD

Hello traders, It's easier for me to understand GOLD, or maybe it's just not getting clearer because there are no clear immediate targets from either side. Naturally, we still have an upward movement as the main trend. Currently, we are growing again, trading above 5050, with pressure remaining in the northern direction. However, I don't think we will immediately go for new highs, even though gold can be unpredictable. On the other hand, the collapse has not disappeared either, so we still have a strong short initiative. The current growth may turn out to be just a pullback. Especially since we haven't dropped below 4400. In general, if we fail to hold above 5100, I will be looking for sell signals and entry points on smaller timeframes.