Gold is putting in the second positive week together with the last bounce at 1240. Closing above 50% of the weekly candle, but sellers are at 1236. Looking to retest the low next week before ripping.
Comment:
The 50% is around 1228.3, so still need to see if that happens.
Comment:
The week closed with a hammer. So very bullish indeed. However the indicators are showing that the move is stretched as it comes up to test the first major resistance at 1234 level. So perhaps one more early week pullback.