Gold continues to create new bullish breakouts
Hello dear friends, let's review the gold prices from last week and discuss the strategy for the upcoming week with Karina!
Overall, gold mainly followed a sideways trend last week and didn't experience many changes around $2035 until a new breakthrough was found towards the end of the week.
As a result, gold surpassed the resistance level at $2042 and achieved a significant recovery, with prices reaching as high as $2070. The long-term upward trend is still intact, although a quick correction followed, closing the week's trading at $2053.
Regarding the gold strategy for the next week: The market will enter a holiday period, and the current correction may retest the breakout area around the support level of $2042 before prices potentially continue to reach the high of $2087.
What are your thoughts on the upcoming trend for gold?
Overall, gold mainly followed a sideways trend last week and didn't experience many changes around $2035 until a new breakthrough was found towards the end of the week.
As a result, gold surpassed the resistance level at $2042 and achieved a significant recovery, with prices reaching as high as $2070. The long-term upward trend is still intact, although a quick correction followed, closing the week's trading at $2053.
Regarding the gold strategy for the next week: The market will enter a holiday period, and the current correction may retest the breakout area around the support level of $2042 before prices potentially continue to reach the high of $2087.
What are your thoughts on the upcoming trend for gold?
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