XAUUSD - Potential Long on the Weekly
Gold (XAUUSD) is looking to complete the formation of the handle, where we could see a progressive move past the previous all time high of $2075.
I am very bullish on gold and gold/silver miners (GDX or GDXJ) due to the current global economic landscape. You can invest in the miners if you are seeking a leveraged play of gold.
There is a large amount of support at the current prices ~$1800. But be mindful that we may dip below the $1800 level if a liquidity spike occurs, liquidating longs before finally making the actual move to the upside.
My target is roughly $2300 within the next 12 months or so.
Trade and invest safely, good luck!
I am very bullish on gold and gold/silver miners (GDX or GDXJ) due to the current global economic landscape. You can invest in the miners if you are seeking a leveraged play of gold.
There is a large amount of support at the current prices ~$1800. But be mindful that we may dip below the $1800 level if a liquidity spike occurs, liquidating longs before finally making the actual move to the upside.
My target is roughly $2300 within the next 12 months or so.
Trade and invest safely, good luck!
Note
Liquidity spike occurred, long stops taken sub $1800. Move to the upside in play.
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