Gold Price Outlook: XAU/USD Carves Range inside Key Resistance

Gold has rallied more than 1% month-to-date with prices setting a well-defined weekly / monthly opening-range just below a critical resistance zone we’ve been tracking for months now. 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 our ‘bottom line’ noted that the, “immediate advance remains vulnerable sub-1238 but ultimately, a breach is favored. Note that price has already set an impressive November opening-range between well-defined technical levels with the focus on a break of the 1210-1238 zone for guidance.” Gold

Article source: https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2018/11/07/Gold-Price-Outlook-XAUUSD-Carves-Range-inside-Key-Resistance-Technical-Chart-Forecast-MBCS.html