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
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