XAU/USD – How far will Gold reach before the upcoming reversal?
Our preference: below 1464 with targets at 1456 & 1451 in extension.
Alternative scenario: above 1464 look for further upside with 1474 & 1483 as targets.
How Far Will Gold Reach Before the Upcoming Reversal?
ANALYSIS | Published Dec 03, 2019 05:40 (+00:00)
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Just when most traders thought that the previous week is going to end in the red for gold,
something exceptional happened.
The USD Index reversed after rallying, and gold rallied sharply in response. In the end,
gold ended the week in the green by forming a clear weekly reversal.
That was actually the second weekly reversal that we saw recently.
Why is this important? Because of what happened shortly after we saw the opposite of it not so long ago.