Above is the daily chart of Gold (XAU=). After breaking out the green flag, it has a bullish trend. The Fibonacci levels on the graph are estimated through the flag breakout, and we have to be aware of these levels. Ultimate target is at around 2050. However, given the recent bearish cross in MACD, it is not a good time to buy Gold at the moment. Let's wait until the indicator shows a better strength in the market. In general, my view on Gold becomes bullish.
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