Thursday, September 19, 2013

XAUUSD outlook 130919

XAUUSD last weeks big bear has broken channel. Engulfing candle forming, all candles not closed.
H1 is tracking the broken TL.

Same thing for H4.

 Engulfing trying to form on the weekly. Could be formation of a piercing pattern soon.
On daily, a star forming, if close above the range, bullish, below $1359.30 opens door to $1339. Still looks short term bearish below $1380, if break and hold into the channel, possible bullish move higher.

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