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Gold Price Forecast: Decision Time Nears - Levels for XAU/USD
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Gold Price Outlook: Gold Surges into Trend Resistance- XAU/USD Levels
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Gold Price Forecast: Gold Rally Rolls On - XAU/USD Rebound or Reversal
2021-07-09 20:00:00
Michael Boutros,
Strategist
Gold Technical Price Outlook: XAU/USD Weekly Trade Levels
Gold priceupdated technical trade levels - Weekly Chart
XAU/USD rebound off uptrend support marks third consecutive weekly advance- correction?
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Gold prices rallied for a third consecutive week with XAU/USD up more than 0.8% into the close on Friday. Gold has now surged nearly 3.9% off the June low and while a rebound off uptrend support keeps the medium-term outlook constructive, we are on the lookout for exhaustion on a stretch higher in the weeks ahead.These are the updated targets and invalidation levels that matter on the XAU/USD weekly technical chart. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this gold technical setup and more.
Gold Price Forecast: Still in the Technical Woods - Levels for XAU/USD
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Gold Price Outlook:
Gold prices have staged a modest recovery over the past week, but remain deep in ‘the technical woods.’
With a cluster of Fibonacci levels above, it would appear that gold prices aren’t out of ‘the technical woods’ until 1835 is achieved.
According to the IG Client Sentiment Index, gold prices have a bullish bias in the near-term.
Questions Remain
Gold prices have enjoyed a small but consistent rally at the start of July, consistent with recent seasonality trends that peg gold for having one of its best months of the year. Fueled by falling US real yields in recent days – the slump in long-end US Treasury yields has outpaced the decline in inflation expectations – gold prices find themselves attempting to ‘turn the corner,’ technically speaking.
Gold Price Outlook: Gold Rallies as Rates Tank- XAU/USD Levels
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