FXHighway
Long

Gold outlook on a longer term outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
197 2 3
By studying the daily chart of Gold             price, with a wider overview on the chart, we can see that the bearish correction stopped after the price came close 61.8% Fibonacci to the entire bullish wave measured from 682.00 to 1920.00, placing two bottoms that I believe will form a medium term double bottom pattern , waiting to test 1447.00 areas that forms the confirmation zone for this pattern.

EMA50 continues to support the price from below, with targets extend to reach 1628.00 after breaching above 1447.00

Short term risk level: 1300.00

Long term risk level: 1155.00
Thank you
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FXHighway methawee.kung
No worries ..
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