Gold [1-3 weeks view] =
Updated
Price expected to move sideways for the next 1 to 3 weeks. Stay neutral between 1236.50/1238.00 and 1183.15.
Only surpassing above resistance at 1236.50/1238.00 will we see a further rise on price.
Else, a break below support at 1183.15/1180 will we see further drop on price.
Only surpassing above resistance at 1236.50/1238.00 will we see a further rise on price.
Else, a break below support at 1183.15/1180 will we see further drop on price.
- RSI shows little upside potential coming close to descending trendline resistance. Yet holding above 43% support level.
- Elements are mixed.
Note
Market surpassed resistance at 1236.50. Validating further rise.
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
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