Gold Price Outlook: XAU/USD Bulls Face First Test of Uptrend Support

Gold is down more than 1.6% off the recent highs with the pullback in price now targeting uptrend slope support ahead of the October close. These are the updated targets and invalidation levels that matter on the XAU/USD charts. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

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Gold Daily Price Chart (XAU/USD)

Gold Daily Price Chart - XAU/USD

Technical Outlook: In our latest Gold Weekly Technical Outlook we continued to highlight a key resistance barrier in gold at 1235/38– “a region defined by the 38.2% retracement of the yearly range, the 100% extension of the advance off the August low, the December swing low and the long 200-week moving average.” Gold tested this threshold for

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