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XAUUSD Double Bottom and 1316 Resistance

XAUUSD Double Bottom and 1316 Resistance

XAUUSD Gold gets stuck 1304 – 1316. Short-term demand continues. Trade talks between the US and China remain unchanged. Global uncertainty supports Gold prices.

A double bottom formation would be completed at the breakout of 1316. The targets of the pattern 1320 and 1326. We need to see an H1 closing above 1315 to enter the Long trade. Stop Loss closing below 1310.

Please note: The pattern would be validated by the H1 closing above 1316…Not before.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

GOLD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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