Gold Is Bullish But Watch The Price Action

Gold is bullish. The weekly candlestick configuration is suggesting a further move up. However, we need to watch the US data today for the exact price movement.

1830-35 is the POC zone. We should see a move up according to the trend. Targets are 1845, 1850, 1855 and 1865. However, if the market breaks below 1830 we should see a drop towards 1822 and 1817. At this point, the price is bullish but watch for the price action later in the day. Buying the dips is a preferable scenario.

(Click on image to enlarge)

 

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.