After breaking through the 4040 resistance in the early session, gold headed north; as of now, the highest price has risen to $4,084. Although the hourly and four-hour chart prices have both broken above the MA resistance and turned upward, the gold price in the intraday Asia session has currently risen by nearly $85, and the daily chart price is currently touching the 20MA.

In the afternoon and European session, be cautious of a pullback in gold; watch the resistance at 4080—4090 above, i.e., near the 20MA resistance on the daily chart. If the gold price pulls back in the European session with only weak force and does not break the 4040—4020 range, then in the short term the gold price will turn upward to complete the short-term bottoming! $XAUUSD