Gold is poised to mark the largest single-day advance in nearly a month with XAU/USD stretching back into resistance at 3355/80- a region defined by the 61.8% retracement of the April decline and the record high-day reversal close. Looking for a reaction off this mark with a close above the median-line needed to fuel a run towards the record high-close at 3431 and the all-time high at 3500.
Weekly / monthly open support rests at 3289 with key support / medium-term bullish invalidation now raised to the 61.8% retracement of the May rally near 3219.
-MB
Weekly / monthly open support rests at 3289 with key support / medium-term bullish invalidation now raised to the 61.8% retracement of the May rally near 3219.
-MB
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.
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.