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Gold Sits Just Below All-Time High

Gold Sits Just Below All-Time High

Thomas Long, Course Instructor

This 4-hour chart of the XAU/USD shows a market that is printing lower highs and lower lows off of the high as the daily chart shows a strong uptrend. A move up through the 1349.20 sell side high would change that series of lower highs to a higher high and could be the trigger for a move up towards the high. On the other hand, a move down through the recent low of 1314.95 could open the door to more selling pressure.

Gold_body_70875d1288273405-chart-day-gold-1028.png, Gold Sits Just Below All-Time High

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.