XAU/USD: gold was captured by bulls

XAU/USD: gold was captured by bulls

2019-11-11 • Updated

Recommendation:

BUY 1342

SL 1327

TP1 1372 TP2 1390 TP3 1400

On the daily chart of XAU/USD, a recoil from support at 1320 allowed bulls to counterattack. In case of a successful test of resistance near 1342, the odds of advance to 113% and 127.2% targets of the “Shark” and AB=CD will increase.  

Gold1.png  

On H1, if XAU/USD gets out of the descending triangle and rises above resistance at 1347 and 1357 will allow bulls to count on the continuation of the advance to 161.8% target of the “Crab” pattern.

Gold2.png

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