My out look for next week. Gold still remains bullish even though we have been stuck in a range if tentions continue will be looking for break and retest of 23400 resistance back to the upside. Or if price falls below the pivot point 2378 could see sales down to 2358. A break of pivot point now would also see a break in 4 hr time frame trend and upwards channel. May indicate the start of a down trend.
I believe we will see a short down to 2384.223 where we shall get a reaction off the 4hr and one hour engulfing candle. This should also give us a touch on the strong 4hr trendline. Pushing us back to the 23400 resistance and break and retest of this we will continue up.
I believe we will see a short down to 2384.223 where we shall get a reaction off the 4hr and one hour engulfing candle. This should also give us a touch on the strong 4hr trendline. Pushing us back to the 23400 resistance and break and retest of this we will continue up.