FXShinobi

GOLD DAILY ANALYSIS

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hey traders,

Markets are now closed but this is the best time to review and analyze what happened over the past week.

Price for Gold touched the green trend line I drew which may be part of a bullish flag pattern for gold .

Price immediately bounced up, with 3 bullish candles before experiencing a minor retrace on Friday.

The close on Friday was weak and indicated bears were not in control the full time.

On the MACD we see bearish momentum fading, and a possible bullish cross about to occur maybe sometime next week.

My bias for next week is up, and for the bulls to remain in control.

Simple price action and analysis.

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