Gold (XAU/USD) has broken above its downtrend from August to suggest the core bull trend is close to resuming on a break above the November high of $1966, according to strategists at Credit Suisse. Key quotes “Gold has not only stabilised as expected above its short, medium and long-term moving averages but has also broken its downtrend from last August and we remain of the view weakness from August is a correction within the longer-term bull market.” “Above the $1966 November high is still needed to suggest the core trend is indeed turning higher again for strength back to $2075 and eventually $2300.” “Support moves to $1855 initially, with $1819 now ideally holding further weakness.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY flips to bullish in the near-term, next resistance at 103.90 FX Street 11 months Gold (XAU/USD) has broken above its downtrend from August to suggest the core bull trend is close to resuming on a break above the November high of $1966, according to strategists at Credit Suisse. Key quotes “Gold has not only stabilised as expected above its short, medium and long-term moving averages but has also broken its downtrend from last August and we remain of the view weakness from August is a correction within the longer-term bull market.” “Above the $1966 November high is still needed to suggest the core trend is indeed turning higher again for strength back to $2075… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
