Gold prices are on the defensive into the start of the month after XAU/USD failed to close above key technical resistance near the 2020 swing highs. While the broader outlook remains constructive, the immediate focus is on this reaction off uptrend resistance and we’re on the lookout for possible downside exhaustion in the weeks ahead. These are the updated targets and invalidation levels that matter on the XAU/USD weekly technical chart into the yearly-open. Technical Outlook: In my last Gold Weekly Price Forecast we noted a constructive outlook while above the yearly moving-average with critical resistance eyed, ... (full story)