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Xau/Usd is showing very solid bullish patterns on the daily and weekly charts . On the daily chart as shown above we can see a perfect triangle pattern at the highs which indicates that there is accumulation at these levels. A break and close above 1355 could lead to a nice rally . Further chart no.2 which is the weekly chart shows a cup and handle pattern which is another extremely bullish formation and should lead to a strong rally .The target for June 1 is therefore 1404.48 . I will post upda…
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DOUBLE BOTTOM IN XAU/USD
XAU/USD has formed a double bottom patten on the daily chart . this double bottom pattern has formed after a good rally and shows that there is bullish accumulation and support taking place between 1320 and 1350 levels .The weekly chart nicely shows the uptrend and consolidation which is taking place at the highs . This will surely lead to a breakout on the upside and the target by 1st may could be around the 1412.50 area