Get started
olly_price

Gold: buy the overshot pullback

Long
Gold Spot / U.S. Dollar (FX:XAUUSD)  
olly_price Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
Gold preciousmetals Metals Technical Analysis Fundamental Analysis Support and Resistance pullbackbuy Fibonacci breakout breakouttrading buysignal Bullish Patterns LONG
2
0
gold preciousmetals metals technicalanalysis fundamental supportandresistance pullbackbuy fibonacci breakout breakouttrading buysignal bullish long
Technicals

Gold broke strongly through the resistance level drawn, before closing slightly above it and then pulling back below it.

I have been long gold for a while and this 'overshot' pullback provides further buying opportunities.

Fundamentals

Following Brexit, we are likely to see UK, European and US stocks take further hits; further warnings from many UK companies; further warnings from the UK government. All these will likely drive gold higher.


Trade active:
Long
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.