Gold Price Outlook: Gold Weekly Reversal- Bear Market Rally or More?
2021-01-22 20:00:00
Michael Boutros,
Strategist
Gold Technical Price Outlook: XAU/USD Weekly Trade Levels
Gold priceupdated technical trade levels - Weekly Chart
XAU/USD snaps two-week losing streak – recovery vulnerable sub 1909
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Gold prices are poised to snap a two-week losing streak with XAU/USD up more than 1.3% to trade at 1856 in early US trade on Friday. An outside weekly-reversal marks the second occurrence in just three weeks and while this development would typically be considered constructive, the rebound keeps price within the broader August decline and the focus is on a break of this week’s range for guidance. These are the updated targets and invalidation levels that matter on the gold weekly charts heading into the close of the month. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this gold technical setup and more.