XAUUSD drifts lower

0 69

The precious metal is trading on a soft note with prices down about 0.5% intraday. This comes as gold trades within the consolidating wedge pattern.

At the time of writing, prices are trading just below the rising trend line.

But unless there is a strong decline, we could expect to see an upside move.

A breakout from the falling wedge pattern will suggest a move back to the 1747 handle. And a breakout above this level should see further continuation.

To the downside, the lower support at 1717.65 remains within sight.

TradingGold

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.