MaryJane
Long

Gold with Bullish Flag and 1-2-3-Breakout Chance?

COMEX:GC1!   GOLD FUTURES
259 1 19
Gold             on it s way up or will the consolidation go on?

Former Analysis:
Double Bottom or new selling Signal?
XAU is near it s former low at 1.071$ .
With Prices below that Level, the downtrend will perhaps tighten with the tp, mentioneds in my former Analysis (TP from the flag) at 1.035$.
Could the Level at 1.070$ be defendet, xau has the Chance to develop a double bottom . Fiorst target (minimal target) of that Formation would be the 38,2 fibo at 1.116$

snapshot


Will XAU break it s resistance ?
The resistance Zone is characterized through the sma200 and the old supporting trendline which turned into resistance.
If xau can trade above this Level @ 1175 the next tp can be 1210$.
If the resistance could not beaten, a new downswing can be exspected. The tp of this downswing could be 1125

https://www.tradingview.com/chart/GC1%2521/Oj4STuJT-GOLD-at-Trading-Mark/
snapshot



Great post/analysis on the yellow metal, it certainly looks like a good investment to buy & hold (longer term); at most I expect just a minor retracement/correction to 1200 (at most) at the moment... If the USD should start strengthening; it should not have such a great impact on Gold price as well (perhaps Gold price runs more emotionally/sentimentally; at this point of time & near future; it should be bullish)... Of-course, if the USD is set to weaken even further..., & (or) if a said "big market crash" arrives; then we can expect XAUUSD price/value to "sour up to the sky"... :)

Best regards.
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