Can Gold Breakout To The Upside?

 

The precious metal made solid gains on Monday, rising close to 3% intraday.

The gains came as the Fed announced its open-ended asset purchases.

Technically, the rebound is, however, met with a hidden bearish divergence.

This means that price action could give back the gains rather quickly.

On the contrary, if XAUUSD forms a base near 1534, we expect further gains to come thereafter.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

Leave a Reply

*