xau usd weekly-1260$ tgt achived now expect rocvery

xau usd weekly technical analysis 16 to 20 may 2016 xau usd weekly technical analysis 16 to 20 may 2016 Xau usd pair this week closed with loss at 1273$. This was second weekly loss for gold spot. This week we saw low of 1256, my tgt of 1260$ I achieved. Sell call given at 1295$.   For next week, xau/usd outlook is bullish on risk off trades. Expect some buying as well as short covering. 1260 and 1245$ are immediate support zones while 1290 and 1315$ are resistances.   From long term view, gold spot above 1335-1360$ zone will start Bull Run for tgts 1560$ to 1770$.

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Pramod Baviskar

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