Gold Price Targets: Breakout Stalls – XUA/USD Coils Below Resistance

• Gold price breakout remains vulnerable sub-1451 – broader outlook constructive above 1350

  黄金价格突破仍然是弱势的1451 - 更广泛的前景建设性高于1350

Gold prices are slightly lower this week with the precious metal down 0.3% ahead of the New York close on Friday. Although the broader focus is higher, GLD remains vulnerable near-term while below a major uptrend resistance. These are the updated targets and invalidation levels that matter on the Gold (XAU/USD) weekly price chart heading into the close of the month.

本周黄金价格小幅走低，贵金属价格下跌0.3％周五纽约收盘。虽然更广泛的关注度更高，但GLD在近期仍然处于弱势，而在主要上行阻力位下方。这些是更新的目标和无效水平，对于黄金（XAU / USD）每周价格图表而言至本月底。

Gold Price Chart - XAU/USD Weekly

黄金价格走势图 - XAU / USD每周

Notes: In my last Gold Weekly PriceOutlook we noted that XAU/USD was, “in a multi-week consolidation pattern just below resistance- look to the break for guidance. From a trading standpoint, the risk remains for a move lower before resumption of the broader uptrend.” Nearly two weeks later and Gold has continued to drift with the broader long-bias still at risk into the close of the month.

注意：在我的上金每周PriceOutlook我们注意到，XAU / USD表示，“在多周的盘整格局中，刚好低于阻力位 - 看待突破指引。从交易的角度来看，在更广泛的上升趋势恢复之前，风险依然存在下行趋势。”近两周后，黄金继续随着更广泛的长期偏见走势而在本月收盘时仍处于风险之中。

Initial weekly support rests at 1380 and the 2016 high-day close at 1366 with broader bullish invalidation 1350. Topside resistance objectives unchanged with a breach / close above 1433 exposing subsequent resistance targets at the 100% extension at 1451 and the 50% retracement of the decline off the record highs at 1483.

每周支撑位在1380点，2016年高点收盘价位于1366点，更广泛的看涨失效1350.上行阻力目标不变，违约/关闭在1433点暴露随后的阻力目标，在1451处延伸100％，以及从1483点的历史高位回落50％回撤。

Bottom line: While the broader outlook remains weighted to the topside, Gold prices remain vulnerable for further weakness near-term after reversing off longer-term resistance targets last week at 1451. From a trading standpoint, looking for a deeper correction in the medium-term to ultimately offer more favorable long-entries closer to trend support. Review my latest Gold Price Outlook for a closer look at the near-term XAU/USD technical trading levels.

底线：尽管上周宽幅前景依然偏向上行，但黄金价格在上周逆转长期阻力目标之后仍然容易受到近期进一步走软的影响。 1451.从交易的角度来看，寻求中期更深层次的修正，最终提供更接近趋势支撑的更有利的长期投资。查看我最新的黄金价格展望，仔细研究近期XAU / USD技术交易水平。

Gold Trader Sentiment (XAU/USD)

黄金交易员情绪（XAU / USD）

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• A summary of IG Client Sentiment shows traders are net-long Gold - the ratio stands at +2.46 (71.1% of traders are long) – bearish reading

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• Long positions are 0.3% higher than yesterday and 19.2% higher from last week

  多头头寸比昨天增加0.3％，比上周增加19.2％

• Short positions are 0.7% lower than yesterday and 16.2% lower from last week

  持仓比昨天减少0.7％，比上周减少16.2％

• We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Traders are further net-long than yesterday & last week, and the combination of current positioning and recent changes gives us a stronger Spot Gold-bearish contrarian trading bias from a sentiment standpoint.

  我们通常采取逆向观点来看待人群情绪，事实上交易者是网 - 龙建议现货黄金价格y继续下降。交易商比昨天和上周进一步净多头，目前定位和近期变化的结合使我们从情绪的角度看待现货黄金看跌逆势交易偏好。