If you're a contrarian, you might not agree here. The crowd is Bullish on Gold, but in this case, I believe that the crowd is correct (and sometimes they are!) Gold has some demand below current price, Gold is holding a W trendline (see chart), and there don't seem to be any really big sellers until price gets much higher.
The ride will most certainly be choppy, but Gold is looking Bullish. Will 2018 see a nice push higher? If the USD continues to show weakness, I would assume so...
Weekly trendline broken, what do you think about it?
Simple_Renko
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@OzkayaOzkaya, Hey Ozkaya! Thank you for chiming in! Because the weakly trendline was broken and additionally, because price broke through the green highlighted range, I have switched my XAUUSD bias to Short. I actually posted a new idea if yo want to check it out. Let me know your thoughts and thanks for following!