XAUUSD Gold Overview and Technical Analysis
Gold made several failed breakout attempts since its multi-year high reached in 2016. We see that the gold prices are still in a solid uptrend, creating higher lows along the way.
That is true: The market is struggling, but it looks like it wants to grind higher
Geopolitical instability will continue to support gold as a safe-haven asset.
Fundamentally, we do not see any logical reason to sell GOLD.
As we have mentioned in our previous forecasts, we remain bullish. Our first midterm target was 1361 and it was tested last week.
Our Next Target is 1375 as seen in the chart. A bullish flag formation is forming as well.
We just need a daily closing above 1360. The real bullish game will start as soon as XAUUSD makes a daily closing above 1360.
Our Midterm Targets: 1375, 1408, 1440 and 1476 ( The target of the bullish flag formation )
BUY GOLD and FORGET.
USE PULLBACKS AS BUYING OPPORTUNITIES.
Pullback Levels To Buy: 1335 1328 1324
The fresh GOLD trade setup will be published for premium members.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
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