GOLD-BUY
Gold Potential Upsides, are we still targeting more highs?Hey Traders, XAUUSD broke an important resistance, one of the reasons for Gold outperformance is that it's considered as a safe haven commodity in time of uncertainty in the market so investors tends to buy it.
Technically we have noticed the breakout of the resistance so i will be watching a potential retrace around 1914 zone.
Trade safe, Joe.
Stand by for BUY signal on GoldStand by for BUY signal on Gold
1.790/1800
is an important area of support/resistance.
1) A breach and close above this level,
will resume the trend line and climb to 1830/40.
2) if the price can't break the 1790/1800 barrier
the trend will most likely change and retreat to 1700 levels
3) Right now, price is underpinned
by 1790 support baseline and 50 EMA.
And above the 200 EMA
4) Money flow index is in the green zone supporting Upside continuation