XAUUSD Double Bottom Points to $1,830

From dailypriceaction.com

I’ve discussed the significance of $1,680 for XAUUSD since March 2nd. It’s a confluence of support for gold based on three key factors. Gold bounced from the $1,680 area in March, but the bullish momentum faded last week. However, Thursday’s rebound from support looks much more convincing, at least so far. Notice how Thursday’s rally has engulfed Wednesday’s selloff. That’s a pretty clear indication that buyers intend to hold XAUUSD above $1,680. While there are no guarantees, the double bottom’s measured objective is $1,830, which happens to be the 38.2% Fibonacci of the 2020 range. Just keep in mind ... (full story)