We can take into consideration the technical point of view...
Last week forecast was spot on, PERFECT. For everybody that followed the analysis +600 PIPS made.
Gold has been ranging from @1680 and @1740 for a while with a couple of false breakouts now and then.
If you look at gold on the weekly chart we can clearly see that GOLD is on a clear uptrend, so if you have been holding your BUY positions for a while, this is certainly not the moment to close those positions, HOLD.
I think that how GOLD will open on Sunday night is essential, a big candle on FRIDAY ( ) that has reached the resistane level @1740.
Now as you can see we have a short term diagonal resistance line, as you can see from the wicks of the 4h chart this resistance was rejected many times, GOOD SIGN!
#1 analysis sees GOLD price go above my resistance that becomes supports, being ejected again by the diagonal resistance and reach the last resistance @1764 and above
#2 analysis sees GOLD been rejected again by the 1740 resistance and keep ranging between 1680 and 1740 for next week
As I said in this case the opening price tomorrow night and the ASIAN will be essential to determine next week ending price for gold . But honestly I see gold going only UP!
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