Good way to play USD gold if based in Australia. XAUUSD looks to be breaking out with a pull back to the trend line and 100dma. Volume is Increasing, Looks likely it’s going to bounce of these support lines and continue its run. Measured move profit target of $24.31 based on the height of the wedge.
Pme looks to have formed a small wedge pullback to the 21 day moving average potentially to the 50 day, Creating a buy opportunity for a continuation of the long term trend. Looks as though once volume has spiked and fallen off on each pullback another marked in June/July the trend breaks out and continues.
Excuse the crudely drawn chart. SPY looks to be in a falling wedge pullback to the long term channel, Expecting a bounce off this support line. However if it breaks through the bottom some minor support around $565.
Buy Target $580
