Mon-Tuesday could see some bullish momentum and then perhaps some downside rest of the week.
But price action is again in a consolidation on higher time frames and can therefore be volatile. Have that in mind. Video is around 5 min. and informative.
Always keep eye on 10 Year Yield and DXY for sentiment clues...
About Gold Next Week # A weekly 3-10-minute forecast video on Gold price for the coming week. I'll also follow up with charts throughout the week as price action develops patterns and pivot reversals points.
System: I use a hybrid blend of Wave Principle price action, Fibonacci ratios, RSI indicator and some Market Data. Disclaimer: nothing talked about in this video should be regarded or seen as trade advise, a trade call, a recommendation, or a trade signal. Do your own due diligence or seek advice from a licensed professional before entering a trade.
Best Regards OmarDjurhuus
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Update! 10y bons Yield matters! DXY strength matters! and also capital moving into equties and making new highs matter!
All this combined put downside pressure on gold. That is why I always say in my video-forecast - have a open chart with the DXY and 10y Yield.
My Mon-Tuesday upside targets @ $1828, 1832 and 1837 are no longer valid as price action has hit my downside extension targets mentioned in the video.
From here on until we get a more clear price action structure of what will develop... gold can develop a bullish Zig-Zag pattern, a Flat pattern or D-bottom/Truncation... if that is the case? then bullish targets are likely @ $1813, 1821 or 1828.
If price action breaks the February low - then downside targets @ $1777, 1768 ,1759 or 1745.