#gold #firstmininggold #preciousmetals #bullmarket #correction #shortsqueeze #summerrally #pullback #50MA #FED #FOMC #200MA #FF #FFMG ??

The 50-day MA has held. Gold is bouncing from this support as traders front-run today’s FOMC decision, which could make tonight’s market reaction more difficult to interpret. Nevertheless, the oversold daily chart and the rebound from the rising 50-day MA point to further upside. A move above USD 4,400 would confirm, in our view, that the second leg higher from the June/July low likely began at Monday’s low of USD 4,253. As long as gold remains below USD 4,400, however, it is still trading within the pullback that began three weeks ago.

https://floriangrummes.substack.com/p/gold-fomc-call-for-september-16th