XAUUSD - Price Action Daily Analysis

Daily price was bounced from 200 SMA together with support level at 4098 to above for the primary daily bullish trend be continuing, and stochastic oscillator is indicating the oversold market codition. Ascending triangle pattern was formed for the price, and for now, the price is testing 4787 resistance for the daily bullish continuation with 5419 possible target for example. If the price is reversed to be back to 4098 support by crossing it to below so the primary daily bearish reversal will be started. Alternatively, the price will be on secondary ranging within 4098/4787 s/r channel waiting for the direction of the bullish trend to be continuing or for the bearish reversal to be started. Summary: daily bullish trend to be continuing