PrimeXBT
Long

XAUUSD- price after attacks on oil facilities.

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold gained 1% on Monday after attacks on oil facilities in Saudi Arabia fueled concerns of a further escalation in Middle East tensions and pushed investors toward safe-haven assets.
Spot gold climbed 1% to $1,503.31 per ounce at 1:36 p.m. EDT (1736 GMT ).
U.S. gold futures settled up 0.8% at $1,511.50.
“The Saudi Arabian situation is driving gold prices higher as people are looking for havens, (watching out) for any negative fallout, both economic and political,” said George Gero, managing director at RBC Wealth Management “Gold will continue to be steady on the upside if there’s an escalation.
On the 2hours time frame the price chart of XAUUSD ( GOLD ) has been spotted forming a bullish reversal chart pattern called THE HEAD and SHOULDERS BOTTOM. A clear is seen only when the body of the candle stick close above the NECKLINE(major resistance). Traders should keep an eye on the following prices:
Breakout: $1508.630
Resistance 1- $1511.320
Resistance 2- $1516.342
Resistance 3 -$1521.104
Resistance 4- $1525.941
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