XAU Trading Outlook Archive

Oil & Gold (XAU) Gold pulled back from the $1750 level but found support at $1730 and still in uptrend above $1700 an ounce. OIL/USD tested $100 but failed to break and fell back to $98 on USD strength in the US session.

Oil & Gold (XAU) Gold move sharply higher in the US session from $1710 to $1750 before consolidating at the resistance level. OIL/USD tracked the Euro and Gold higher up to $99 as the USD came under pressure.

Oil & Gold (XAU) Gold fell back for a second day as the market continued to liquidate long positions searching for support eventually found under $1720. OIL/USD pivoted the $97 but the selling has stopped seen last week as the energy fell below $100.

Oil & Gold (XAU) Gold corrected overnight as the safe haven precious metal lost some of its relative shine to the USD. OIL/USD attempted a meek rally to $97.50 after the good US data Friday.

Oil & Gold (XAU) Gold extended the rally to $1760 and consolidated just under the level. Oil is under heavy pressure after breaking the $98.50 bottom of the recent range and extended falls to $96 overnight.

Oil & Gold (XAU) Gold tested but failed above $1750 before easing to $1745. Oil broke down after the outside day reversal yesterday.

Oil & Gold (XAU) Gold range traded between $1745 and $1725 in sideways trade. Oil spikes to $101 before reversing violently to below $98.50 in a weak technically signal.

Oil & Gold (XAU) Gold dipped to $1720 before resuming its strength back above $1630 by the close. Oil dipped to recent supports under $98.50 before rebounding with US stocks into the close.

Oil & Gold (XAU) Gold extended the rally to $1740 before topping out and pulling back into the weekend on mild profit taking. Oil struggled to hold above $100 on Friday and this prompted a fall back to lower $99 into the weekend.

Oil & Gold (XAU) Gold dipped towards $1700 before rallying to $1730 fresh highs in the US session. Oil broke above $100 but a sharp rally to $101 was reversed back below $100 by the end of the trading session.