Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1859.92 with take profit at 1862.80
Bearish Preference:
Sell position is envisaged if price trades below 1850.56 with take profit at 1847.86
Fundamentals:
No Major Fundamental
Comment:
Gold prices are attempting to close a four-day advance with XAU/USD rallying alongside equities today. The recovery off downtrend support is now testing downtrend resistance- it’s make-or-break here near-term for the bulls. These are the updated targets and invalidation levels that matter on the XAU/USD technical charts. Review my latest Strategy Webinar for an in-depth breakdown of this gold technical setup and more.
Analysis: SCRUM Team