XAUUSD Gold Overview and Technical Analysis

Gold made several failed breakout attempts since its multi-year high reached in 2016. We see that the gold prices are still in a solid uptrend, creating higher lows along the way.

That is true: The market is struggling, but it looks like it wants to grind higher

Geopolitical instability will continue to support gold as a safe-haven asset.

Fundamentally, we do not see any logical reason to sell GOLD .

As we have mentioned in our previous forecasts, we remain bullish . Our first midterm target was 1361 and it was tested last week.

Our Next Target is 1375 as seen in the chart. A bullish flag is forming as well.

We just need a daily closing above 1360. The real bullish game will start as soon as XAUUSD makes a daily closing above 1360.

Our Midterm Targets: 1375, 1408, 1440 and 1476 ( The target of the bullish flag formation )

BUY GOLD and FORGET.

USE PULLBACKS AS BUYING OPPORTUNITIES.

Pullback Levels To Buy: 1335 1328 1324

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money