Gold: Weekly Forecast 17th October 2021
Gold climbed further just as forecast last week, except that it plunged on the last day and wiped out most gains.
Despite so, both the high and closing prices are higher than the previous week and there's no change in the entire market structure.
In fact, the price fell just enough to stay supported at a newly formed rising channel.
This week, we may attempt to buy at the beginning of the week at the current price, or perhaps a further drawback towards the 1754 demand level.
The target will be 1830 supply level and the top of the current symmetrical triangle.
Despite so, both the high and closing prices are higher than the previous week and there's no change in the entire market structure.
In fact, the price fell just enough to stay supported at a newly formed rising channel.
This week, we may attempt to buy at the beginning of the week at the current price, or perhaps a further drawback towards the 1754 demand level.
The target will be 1830 supply level and the top of the current symmetrical triangle.
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