I dont anticipate a break of new highs as there is great yearly resistance around the 1736 price. Instead there is high potential for a pullback before prices make new highs.
XAUUSD
XAUUSD
Comment:
Money Managers: Have significantly increased their long positions over the past week and we anticipate a retest the recent highs of 1764. Should we pass the recent highs then we can look towards a breakout to the upside to the 1800. We will keep a firm eye on how Gold will progress. If we do not break past the resent highs of 1764. there will be a possibility of positions being trimmed down.
Trade closed: target reached