Gold Price News and Forecast: XAU/USD bulls take back control to target $1,760 resistance
|Gold Price Analysis: XAU/USD stays on the front-foot towards $1,750 amid mixed clues
Gold prices extend the early-week recovery while picking up bids around $1,739 amid the initial Asian session on Wednesday. In doing so, the yellow metal stretches the bounce off the lowest since June 2020 to the weekly high near $1,740 before recently catching a breather. Cautious sentiment ahead of the key data/events, lack of major catalysts keeps traders guessing.
Gold Price Analysis: Bulls take control to $1,760 to complete bearish 4-hour W-formation
Gold bulls take back control to target $1,760 resistance. 4-hour W-formation in the makings which is a bearish pattern, $1,700 to come under pressure. As per the prior analysis, Gold Price Analysis: Bears testing the commitments of the bulls, where the downside was projected to terminate in the low $1,700s, the price has indeed corrected from $1,707.33 and moved in for a higher correction.
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