Gold is shortly approaching a well respected trend line around the 1483.25 price mark. Signs of a potential long forming with breakouts to highs of 1505.00 price regions.
Potential 3.45 risk/reward ratio
Monfex is at your service and today we overview XAU/USD.
Gold broke the ascending channel. For now we have the descending movement and the price at the moment near resistance line with MA100 and the big volume zone that is our main point for short.
There is a possibility that this is a big bull flag, which is aimed at new highs, but the support...
though we see some correctional movement on silver
my outlook is still bearish .
currently, the market is standing just beneath the major falling trendline .
I expect that selling volumes will accumulate and we will see a bearish breakout of a bear flag .
for us, it will be a perfect selling signal.
Another higher low forming on gold.
Got a nice rejection of the fib 0.786 retracement level and the broken bullish TL.
Looking for a lower lower to be made on this timeframe swell as the daily. Hence my target target profit of $1455/$1450
I still believe these need to get back and correlate with each other somehow.
which means there need to be major dollar weakness somewhere along the line.
Could this be the start of it.. maybe the US/China trade war will go badly....... but i cant see it.
This week, we will likely see gold re-testing 1480, where price briefly violated on Friday but quickly rallied above after some bulls visited the metal. If 1480 is unable to hold gold's price, we could likely witness a test of 1446 level in the coming days before gold rally out of its bullish falling wedge.
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GOLD GOLD GOLD last week you were a little bit of a pain, we caught a few pips on you... but you gave...
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Gold is noticeably retreating amid the positive progress in trade talks.
* Positive news from Brexit and US-China trade negotiations are enhancing investor sentiment - positive headlines boosts investor’s risk appetite. Particularly, on the US-China landscape, the talks are taking positive course as the negotiations restarted...