XAUUSD Retracement almost completed. Sell opportunity.

Gold (XAUUSD) took advantage of the lower than expected U.S. CPI and rose aggressively back above both the Channel Down and the 4H MA50 (blue trend-line) but not before hitting our Lower Low target within the Channel Down (see chart below):


Even though this rise is more based on fundamentals than technicals, the price is approaching the 0.618 Fibonacci retracement level where the previous Channel Down break-out formed a top and reversed (September 01 2023). If fundamentals continue to influence the market more, then we might see Gold rise a little more, until the 4H RSI gets close to 80.00, but the upside is limited. You can start selling with a first short-term target the 0.236 Fib ay 1947.50.

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