Gold Price Forecast: XAU/USD yearns for a bull flag breakout amid an impending bullish crossover Gold XAUUSD Technical Analysis
“The wait for a bull flag confirmation almost seems over, as Gold price holds fort above the falling trendline resistance at $1,737. Daily closing above the latter is critical to validate the bullish continuation pattern and revive the uptrend toward the three-month highs of $1,787. Ahead of that, bulls will face immediate hurdles at the psychological $1,750 level and this week’s high near $1,770.
“On the flip side, a strong cushion is seen at Monday’s low of $1,733, below which the falling trendline support at $1,712 will be tested. At that level, the 100DMA creeps in. Further south, the bullish 21DMA at $1,708 will come into play, offering the last line of defense for the Gold price.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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