Gold

The Commitment of Traders report (COT) has been delayed due to the public holiday in the US last week. Even so

Sentiment is: Positive

Technical Analysis

XAG/USD has broken through the resistance line of a Double Bottom technical chart pattern. Because we have seen it retrace from this line in the past, one should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 29 days and suggests a possible target level to be around 31.9911 within the next 3 days.

Double Bottom breakout on XAG/USD

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