Chart of the day – XAU/USD [Video]


Gold breakout targets!

Gold has made a strong rebound from the 200dma earlier this month. The 200dma also resided at the 38% retracement of the October range which acted as major support. Because the retracement was so shallow, while the gold market trades above 2010 (bulls probably are watching the 2K level specifically) the risk is for a move higher towards the 127% extension at 2035, then the 161% extension at 2064.

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