FXHighway
Long

Gold gets a positive formation

FX:XAUUSD   Gold Spot / U.S. Dollar
189 views
2
189 0
Target: 1300.00
Risk: 1179.00

Technical Reasons:

Gold price completed forming an inverted head and shoulders’ pattern, its confirmation line is located at 1220.00, and breaching this level will support achieving good gains on the short term basis.

The exponential moving averages 50 and 100 provide positive support to the price, and turns it back above the previously broken bullish trend line .

MACD is positive, and stochastic overlaps positively to support rising in the upcoming period.



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