XAU/USD Moving Towards Neutral

The below is the daily chart of the XAUUSD. The green 5-day EMA is converging on the orange 13-day EMA (blue ellipse). If its crosses below it will effectively end the bullish EMA stack. The upside momentum certainly has been declining with the RSI(9) now at the neutral 50 level (blue rectangle). The EMA crossover will mean that the precious metal has moved into a neutral EMA formation which is a characteristic of a congestion area.


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