FX:XAUUSD   Gold Spot / U.S. Dollar
Gold has become very volatile within the past couple months which also means immense Opportunity. Gold resting at 1507 support is very interesting to me because all though we did rejected 1428 4HR resistance with NFP. Bears controlled and brought price back to 1507 but if you take a look at my daily chart you can see we have tested 1507 twice within 2 days but never broke on daily support. Also adding more confluences if you draw a support line around 1507.46 we rejected on the 4 HR testing 78.6 Fibonacci four times. Lastly I'd like too add that My daily trend line has held since 1400 and was tested but no break as of now if it does break i will look for targets around 1493 - 1480 - 1440. Overall judging from what i see gold being bullish this week overall but well see what the markets want to do. Have a good weekend!
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