OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold had tested the support level and broke its corrective channel up.
Gold is ready to renew highs amid a weakening dollar and overheating of the US market.
I am sure that 2021 will be very bullish for gold .

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interesting =D
+1 Reply
@Zivul33 exactly ... if it becomes a full cup and handle
I have the same feeling like you. There is still room for gold to pump up to the 2000 zone :)
+1 Reply
kksa09 ronick
@ronick, right
If the stock market corrects, what will XAU do? Crash as well and recover quickly, in March it crashed 14%.
+1 Reply
@DU09, If the market crashes, everything crashes. We consider gold to be a store a value, but it's still a risk asset.
Good one, keep it up!
It's a cup pattern on the M time frame
Classic cup n handle ...
Great technical setup, thank you for sharing.
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