Gold - Could we break out to the upside next week? Long

Gold / U.S. DollarFOREX.com

Description

⋅ May 16, 2020 7:19 PM

Gold is currently sitting at a key area of resistance.

It needs some more continuation, but resistance could become support and this could be a good entry for a long position.

The last 3 candles were strong to the upside.

Lets see if we breakout to the upside next week.

Comments

UnknownUnicorn2109202

⋅ May 16, 2020 9:11 PM

Or resistance may be too strong? And make a sudden drop to the support?

PeterHedger3

⋅ May 16, 2020 9:15 PM

@OnePintWonder, Totally Agree. Its a key level. Either we break through and it becomes support. Or we dont break the level and drop lower. Let see what happens next week.