What can we expect this week?
Updated
last friday gold suffered a big crash off around 1000pips in couple hours, leavins buyers perplex. The bullish trend support stopped the fall off gold for now. Expecting gold to retrace bullish, but all depend on certain support levels and the trend support.
A clear break off 2325 would be bad for buyers and a posible reverse trend may start. If 2305 breaks then gold will fall furhter.
The given arrows are not a signal. but a posibility
Resistance: 2363, 2373, 2393
Support: 2346, 2326, 2305
A clear break off 2325 would be bad for buyers and a posible reverse trend may start. If 2305 breaks then gold will fall furhter.
The given arrows are not a signal. but a posibility
Resistance: 2363, 2373, 2393
Support: 2346, 2326, 2305
Note
Gold pushing higher. We took a proper trade hereNote
We need the break off 2993 in order to even speak about the bullrun continuation. If the market can't creat a HH(Higher high) it can indicate the bulls are dying and posible reversal or pullback ahead. Break below the channel with confirmation may send gold lower with target 2346, 2325 and longterm 2305.
Break above 2993 channel with confirmation will push gold higher with posible targets 2400, 2416 and ATH 2430
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