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Idea for GOLD next week.

FX:XAUUSD   Gold / U.S. Dollar
492 2 2
If I choose the stance of S&P500             is bearish , and positive for USD. Gold             will be downside.
Analysis for S&P500 next week.


Look at the chart.

Gold             touched the bearish trend line .
And Gold             price tested the resistance level : 1236.24

Short Gold             to 1215.47 level.

If you choose the move of USD is bearish . Gold             will extend to next resistance level is 1250.85.

You have two choices:

- If you choose bullish trend for USD, Gold             is bearish trend . the level is 1215.47

- If you choose brearish trend for USD, Gold             is bullish trend , the level is 1250.85.

In my opinion, I choose the first choice : Bullish trend for USD, bearish trend for Gold             .
I choose the second choice, because gold have a long time bearish , now chart gold w break downtrend , if gold break resistance 1252.5 , the level next 1302.9
Reply
Hit 1215.47 :) Good Trade..
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