Gold Weekly Technical Outlook: Budding Breakout Caught at Range Support?

Gold Technical Outlook

Gold prices decline for the second consecutive week with the precious metal off by more than 1.8% to trade at 1210 ahead of the New York close on Friday. The move carves a well-defined range in price between key inflections zones. Here are the updated targets and invalidation levels that matter on the XAU/USD weekly chart. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

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Gold Weekly Price Chart

Gold Weekly Technical Outlook: Budding Breakout Caught at Range Support?

Technical Outlook: In our last Gold Weekly Technical Outlook, we continued to highlight a critical resistance confluence at 1235/38 with the immediate long-bias at risk while below. Our ‘bottom line’ cited that price had, “already set

Article source: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2018/11/09/Budding-Breakout-Caught-at-Range-Support.html