Gold price analysis and prediction for the upcoming week.
Gold has broken the 1757 resistance level, which I was writing about consistently
in the previous week. Currently, there's no significant resistance except the 100 day
MA level at 1780 which might not be a strong hurdle for the bulls.
That being said, a moderate correction and a retest of the 1757 level can still take place
this week. If a retest happens and bullish PA is formed, then it will be a buy opportunity
till 1810.
Sellers need to wait a bit until price reaches the strong resistance levels as shown in the
chart. Either way, be prepared and trade according to price action and not based on prediction.
in the previous week. Currently, there's no significant resistance except the 100 day
MA level at 1780 which might not be a strong hurdle for the bulls.
That being said, a moderate correction and a retest of the 1757 level can still take place
this week. If a retest happens and bullish PA is formed, then it will be a buy opportunity
till 1810.
Sellers need to wait a bit until price reaches the strong resistance levels as shown in the
chart. Either way, be prepared and trade according to price action and not based on prediction.