GOLD - daily chart
Fundamental Point of View
based on the upcoming news we will be waiting for very big move this week.
1. On Tuesday, CPI will be released which makes the market too much volatile. CPI higher than expected will be bearish for Gold
2. On Wednesday and Thursday the "Retail Sales" & "Initial Jobless Claims"
3. Friday Michigan Consumer Sentiment
All of these will determine the next week FED rate
0.25 Increase will be Bullish for Gold while 0.5 will be bearish for Gold
Technical Point of View
1. weekly candles are Bullish .. there will be a small retracement up to 1834 then rise again maybe up to 1920
2. 1872 - 1883 is a strong zone for the short term sell
3. 1920 - 1954 is the strongest zone to stop gold from rising
4. 1787 - 1748 zone has very magnetic force which pulls down Gold .
This zone has the power to push gold again to 1870
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