Gold Price Outlook: Gold Move Runs into First Key Resistance

Gold Price Outlook: Gold Move Runs into First Key Resistance

From fxdailyreport.com

The gold price rallied over 2.3% this week XAU/USD, which marked the 3rd consecutive weekly advancement. The reversal off the technical downside support is quickly approaching the first huge test of the downside resistance – we are on the lookout for the price inflection in the next few days with the key rally weak into the upcoming levels. There are invalidation levels and updated targets that are significant on the XAU/USD technical outlook as we head into the end of this week as ASX 200 Rally Taking Pause Despite New Rise in S&P 500 Index. Technical outlook – in our previous gold price outlook, we ... (full story)

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vikinsa

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Dec 20, 2020 8:25pm Dec 20, 2020 8:25pm

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Will break resistance and persist higher into the 1900/2000 handles. Last move (last week) was a head fake - its true impetus is North (and in a hurry from this point on) reading the emergent fractures since Tokyo open . Last move was very tricky sold a dummy to hilt and confused most onlookers - doubt it can hide its true colour from this point on though. Good luck trading.

The Crow (-_-)

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Posted: Dec 19, 2020 11:51pm
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Newsstand

Category: Technical Analysis

Comments: 2 / Views: 678