GOLD (XAU/USD) – Week 20 – Deeper pullback expected.

In our previous outlook, we correctly forecasted that Gold will make a small correction and resume its bullish momentum towards the daily trendline.
For this week, we are expecting Gold to reach the orange Daily trendline that we highlighted on our chart before starting a deeper pullback that can push the price towards the liquidity pool.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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Comment:

New update: The bullish momentum is still strong, but we still expect a correction to occur. If we get a trendline + support breakout, followed by a small pullback underneath the TL, the chances for the bearish move will grow.

Trade with care.