Gold Price Forecast: XAU/USD validates a Falling Wedge formation, more upside likely? Gold XAUUSD Technical Analysis
“Gold price confirmed falling wedge formation on the daily chart after yielding a daily close above the falling trendline resistance at $1,813 on Tuesday. Should the upside break find its footing,could advance further toward the previous week’s high at $1,848, above which the $1,850 psychological level will come into play.”
“Any retracement could test the initial support at the $1,820 round figure, below which the two-month low of $1,805 will be in focus. The next downside target is seen at the $1,800 threshold.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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