Gold Breakout On The Upside
XXAU/USD has been trading downwards since April which gives us a potential set-up to long XXAU/USD
Long-term downside trend-line has been formed which gives us a chance to buy the breakout.
Current long term outlook on XXAU/USD
Long-term downside trend-line has been formed which gives us a chance to buy the breakout.
Current long term outlook on XXAU/USD
- is Bullish.
Also, with China seeking WTO's permission to impose sanctions of US$7 Billion, this might affect prices of XXAU/USD
as
XAU and 
USD have an inverse relationship, sanctions could further support the upside breakout of XAU
Target: 1258.45
Resistance: 1235.42 (61.8% Retracement)
Support: 1210.05, 1208.30 (Heavy Trading at this price range)
Nota
Gold Has currently broken the bearish trendline,Look out for the retracement back to contest the trendline to buy back in
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.