Although we don't think so we have to potentially change our bullish bias in Gold to bearish if 1246s and finally 1232s are taken out and price moves lower. Prices on chart for key target entries.
Keeping an eye in Oil and Equities as well this week. USD weakness is troublesome.
Note on Weekly Chart, price remained below SMA100 with a noticeable size wick. Daily spinning top is further confirmation of a potential trend shift - not confirmed yet!
Keeping an eye in Oil and Equities as well this week. USD weakness is troublesome.
Note on Weekly Chart, price remained below SMA100 with a noticeable size wick. Daily spinning top is further confirmation of a potential trend shift - not confirmed yet!
Comment:
1232s on the back of Fed's comments proven to remain as support for now - (Resistance levels becoming Support?)...Bullish bias remains with potential correction expected...Below 1232s will shall see targets mentioned on the chart.
