Gold Price Outlook: XAU/USD Consolidation- Breakout Imminent

Gold prices have continued to consolidate just below multi-month slope resistance and the battles lines are drawn heading into the December trade. 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 last Gold Technical Outlook our ‘bottom line’ stated that we were, “The recovery off the monthly low is now testing the first major resistance level- failure here would risk a drop back towards the lower parallels but the trade remains constructive while within this formation. Gold registered a low this week at 1211 before reversing sharply off the

Article source: https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2018/11/29/Gold-Price-Outlook-XAUUSD-Consolidation--Breakout-Imminent-Technical-Chart-Forecast-MBCS.html