Gold Price Forecast: XAU/USD continues to improve, eyes further gains above $1834 – Credit Suisse

Gold extends its recovery from long-term support. The yellow metal may be forming a larger bullish continuation pattern, the Credit Suisse analyst team reports.

See – Gold Price Forecast: XAU/USD to see a final rally towards $1900 – ANZ

XAU/USD would set an in-range base above $1834 

“Key now is the July and August highs at $1832/34, a break above which is needed to suggest a base has been in place to keep the immediate risk higher for $1871, then $1917. Above this latter level would suggest a more important and large bullish continuation pattern has been completed to expose the $2075 high.”

“Only below $1671 though would mark a major top to mark an important change of trend lower. We would then see support at $1620/15 initially, then $1565/60.”