Gold has struggled to break through its daily highs for the past week. I am looking for another push up to the $3360-$3370 range. If it fails to break that level again, we may see support levels around $3200 being retested. In my opinion, there is even potential for it to go lower. I'd love to hear your thoughts in the comments!
*Side note:* With the U.S. dollar falling in value and ongoing economic uncertainty, I believe gold has tremendous upside potential over the next 12-18 months.
XAUUSD
*Side note:* With the U.S. dollar falling in value and ongoing economic uncertainty, I believe gold has tremendous upside potential over the next 12-18 months.
XAUUSD Trade active
As anticipated Gold rejected resistance on the daily timeframe. It wicked at 3289 as the NL, liquidity may be low tomorrow but i expect a continued down trend next week. Overall the play is currently in nice profits and headed toward TP1.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.