XAUUSD is bouncing from the uptrend line
XAUUSD is bouncing from the uptrend line 1748. Confirmation of the bounce will come upon a break above 1790. Now only a break below 1748 would lead to an invalidation of the uptrend and could lead to a deeper pullback to 1676. An important test after 1790 is 1840 and a break above will lead to an uptrend continuation. Gold bounced from strong support and it could be an indication of the long-term uptrend extension to the 5th wave.Â
Note: you can go long upon a break above 1790 with the stop loss below 1750
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