Gold Price Setup: Can Stretched Long Positioning in XAU/USD Trump Technicals?

Chart Created by Manish Jaradi Using TradingView The technical setup remains broadly unchanged from the previous update. See “Retreat in US Yields Supports Gold, But for How Long? XAU/USD, XAU/EUR Price Setups”, published May 31. On the daily chart, gold remains above quite a strong cushion around 1930, including an uptrend line from the end of 2022, the 89-day moving average, and the lower edge of the Ichimoku cloud. The colour-coded candlestick daily charts show the current trend is a consolidation within the overall bullish structure. XAU/USD 240-minute Chart

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