Gold Breakout On The Upside

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XXAU/USD has been trading downwards since April which gives us a potential set-up to long XXAU/USD

Long-term downside trend-line has been formed which gives us a chance to buy the breakout.

Current long term outlook on XXAU/USD

• is Bullish.
  
  Also, with China seeking WTO's permission to impose sanctions of US$7 Billion, this might affect prices of XXAU/USD
  as XAU and USD have an inverse relationship, sanctions could further support the upside breakout of XAU
  
  Target: 1258.45
  Resistance: 1235.42 (61.8% Retracement)
  Support: 1210.05, 1208.30 (Heavy Trading at this price range)
  

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ملاحظة

Gold Has currently broken the bearish trendline,

Look out for the retracement back to contest the trendline to buy back in