After rising above $2,040, Gold reversed its direction and turned negative on the day near $2,030. Hawkish comments from NY Fed President Williams triggered a rebound in the US Treasury bond yields and made it difficult for XAU/USD to preserve its bullish momentum.
Hi traders, GOLD is setting up for a upside move watch price to hold the bottom and look price action for a long position opportunity according to your trading strategy, do not depend on my analysis GOOD LUCK.
As we can see, from this Gold chart we have a clear ascending Wedge/Pennant pattern. What is the next move for Gold?
Using the past few weeks of data and news from the FED my personal Bias is LONG on XAUUSD. I believe that Gold will break to the upside out of this pattern and hit $1800 before this pandemic is over. I am adding positions to Gold (as you can see...
