Technical Trade Note on $GOLD [XAU]
We have seen the price of Gold (XAU) move lower over the last two months. The price is currently trading lower within a descending channel and I am looking for a target price of $ 1285/ ounce where the price found support over the last couple of trading sessions.
Take Note: we need a close above the $ 1307/ ounce price level to negate the move lower on Gold.
Trade: Gold (XAU)
- Entry (Sell): $ 1296/ ounce
- Stop loss: $ 1307/ ounce
- Target price 1: $ 1285/ ounce
Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.