GOLD UPDATE
$XAUUSD is starting to look interesting here from a higher timeframe perspective. Price has finally found support around $1740 starting to show a deceleration and multiple rejections to the downside. In my opinion its only a matter of time before the price breaks above this corrective downtrend which the market has been in since its last ATH back in **AUG 2020**a break above this trendline will send gold to new highs of around $2200.
With the USD index now testing strong resistance and the stock market is finally seeing a well over due correction investors will start flowing cash back to a "safe haven" asset like gold.
$XAUUSD is starting to look interesting here from a higher timeframe perspective. Price has finally found support around $1740 starting to show a deceleration and multiple rejections to the downside. In my opinion its only a matter of time before the price breaks above this corrective downtrend which the market has been in since its last ATH back in **AUG 2020**a break above this trendline will send gold to new highs of around $2200.
With the USD index now testing strong resistance and the stock market is finally seeing a well over due correction investors will start flowing cash back to a "safe haven" asset like gold.