GOLD PRICE CHART – XAU/USD WEEKLY
Chart Prepared by Michael Boutros, Technical Strategist; Gold on Tradingview
Gold prices rallied to fresh eight year highs in the second quarter with an advance of more than 23% off the March lows taking XAU/USD into long-term uptrend resistance heading into the July open. The focus is on a reaction here with a weekly close above trend resistance needed to keep the breakout trade viable. While the broader focus remains higher in price, the threat for a larger correction is in focus on the back of this four-week advance and we’re looking for a reaction early in the month.
Bottom line: From a trading standpoint, be on guard for a possible exhaustion high early in the quarter with a larger pullback to offer more favorable positioning closer to trend support. Ultimately we’ll want to see a breach / close above the 2012 highs to keep the broader 2018 advance viable as we head into the second half of the year. The question heading into the Q3 is – does a breakout here mark resumption or do we get the correction first? We should find out in the first few weeks of July – stay tuned!
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.