This week GOLD has been massively great and it decided to break out of the long overdue consolidation which means its now ready to move...FINALLY !!!
On Wednesday there was a FOMC meeting held up and price reacted positively from it after a false breakout of the strong support zone(1759-63) which led to price moving impulsively ,breaking out of the reversal pattern with a strong impulsive move to the upside and also broken through local resistance (1790-94) and that has fully confirmed that we have a valid price direction which is bullish..
So what im expecting for next week is a continuation pattern which can be a bullish flag or peanant that retraces back to local resistance (1790-94) turning it into support which will be a signal for more buying opportunities...
{I STRONGLY RECOMMEND YOU DO YOUR OWN ANALYSIS, AS THIS IS JUST AN IDEA}
On Wednesday there was a FOMC meeting held up and price reacted positively from it after a false breakout of the strong support zone(1759-63) which led to price moving impulsively ,breaking out of the reversal pattern with a strong impulsive move to the upside and also broken through local resistance (1790-94) and that has fully confirmed that we have a valid price direction which is bullish..
So what im expecting for next week is a continuation pattern which can be a bullish flag or peanant that retraces back to local resistance (1790-94) turning it into support which will be a signal for more buying opportunities...
{I STRONGLY RECOMMEND YOU DO YOUR OWN ANALYSIS, AS THIS IS JUST AN IDEA}
