Gold (XAU/USD) hourly chart shows the upside break of a falling channel. A corrective rally will likely gather steam if metal finds acceptance above the 50-hour moving average. The long-run outlook remains bearish, the metal looks set to test $1,240. Hourly chart Chart source: Netstation Current Price: $1,267 Daily High: $1,269 Daily Low: $1,266 Trend: Corrective rally likely Resistance R1: $1,269.30 (50-hour MA) R2: $1,274.12 (100-hour MA) R3: $1,282 (May 21 low) Support S1: $1,261.14 (previous day’s low) S2: $1,240 (double top breakdown target) S3: $1,236.45 (Dec. 12 low) 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 Fitch reaffirms South Korea at AA-, outlook stable with trade war caveat FX Street 3 years Gold (XAU/USD) hourly chart shows the upside break of a falling channel. A corrective rally will likely gather steam if metal finds acceptance above the 50-hour moving average. The long-run outlook remains bearish, the metal looks set to test $1,240. Hourly chart Chart source: Netstation Current Price: $1,267 Daily High: $1,269 Daily Low: $1,266 Trend: Corrective rally likely Resistance R1: $1,269.30 (50-hour MA) R2: $1,274.12 (100-hour MA) R3: $1,282 (May 21 low) Support S1: $1,261.14 (previous day's low) S2: $1,240 (double top breakdown target) S3: $1,236.45 (Dec. 12 low) 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.
