Gold XAUUSD getting closer towards major breakout

2 Feb 2020

hey guys welcome for a new Gold XAUUSD update

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now most likely Gold in now moving in 5th wave which could soon breakout from this consolidation channel and we could see a new high towards 16xx level or the red zone
here we get the monthly resistance, so a short term correction is expected from this level
if you're short on gold for now than be very cautious, there's no single sign of weakness in trend

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after completing this 5 wave formation i expect an ABC zigzag corrective formation from 16xx zone

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my custom rsi in weekly chart, no sign of any negativity


in 4h chart most likely prices are going to breakout from the channel towards new highs, as my custom rsi is now aiming to enter in red zone

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that's all for now, hope this idea will help you making good profits
for more updates follow me here and twitter

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this is Husain Zabir, signing out
Thankyou...