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Theperfectionist

Midterm view on Gold - TECHNICAL ANALYSIS ONLY

Long
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
Theperfectionist Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns long-term preciousmetals Gold Bullish Patterns
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trendanalysis harmonicpatterns chartpattern long-term preciousmetals gold bullish
The precious metal is consolidating by forming lower highs since the 5-year high 1440$ per ounce. In fact it has been a month we experience sideway movements while the daily traded volume remains steady. There is an upcoming volatility probably delayed by crucial pending news reports.

Possible Targets: 1500.00 or 1300.00 if the security enters a bearish run.

Advice: Stay bullish and buy at low points while we don't break down the demand level of 1380.00
Comment:
false breakout on top of the bull flag. The security remains bullish.
Comment:
Comment:
Gold has been ranging for more than 2 weeks awaiting the fed cut news and the crucial US economic data this week.
Comment:
The Bull Flag was broken out pushing prices upward. We are eager to see 1500.00 by September.
Comment:
We are close to our target 1500.00
Trade closed: target reached

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