Gold Holds 50-Day MA - Breakout Potential Remains
Gold has rallied back sharply after testing its 50-day MA near $2375 earlier today. The precious metal has yet to set a “lower low” since early June, keeping the near-term bullish momentum intact for now.
For this week, traders will be looking to see if XAU/USD can recover back to the $2450 level and ultimately break above the record high at $2485 to clear the way for a continuation toward $2600+ in time.
On the other hand, a close below today’s low and the 50-day EMA would erase the near-term bullish bias and shift the outlook to neutral for more consolidation between $2300 and $2400.
-MW
For this week, traders will be looking to see if XAU/USD can recover back to the $2450 level and ultimately break above the record high at $2485 to clear the way for a continuation toward $2600+ in time.
On the other hand, a close below today’s low and the 50-day EMA would erase the near-term bullish bias and shift the outlook to neutral for more consolidation between $2300 and $2400.
-MW
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.