Here is the market projection GOLD (XAUUSD) for the coming week from 26th to 29th of December.
ANALYSIS: In monthly timeframe price is trading within major static support and resistance. The monthly candlestick in a sort of indecision, this may indicate a possibility of fading of the bullish momentum at the current market price. Weekly timeframe support the monthly timeframe by a possibility of price resuming to the upside. Daily timeframe provide some information about the possibility of price falling in the coming days. Friday candlestick has a clear rejection from the upside, therefore if the next candle will respect this formation expect to see price falling next week. In four hour timeframe, price shows a clear ABC to the upside, this may be a correction of the resent move to the downside. The current price move in the ABC up is within key Fibonacci level of 61%.
PRIMARY PROJECTION: Mainly consider sell opportunities if price will remain below the highest price reached on Friday. In this case, price is expected to fall up to the level of the indicated static support.
ALTENATIVE PROJECTION: Consider buy opportunities if price will move and close above the level of the static resistance indicated in this analysis.
ANALYSIS: In monthly timeframe price is trading within major static support and resistance. The monthly candlestick in a sort of indecision, this may indicate a possibility of fading of the bullish momentum at the current market price. Weekly timeframe support the monthly timeframe by a possibility of price resuming to the upside. Daily timeframe provide some information about the possibility of price falling in the coming days. Friday candlestick has a clear rejection from the upside, therefore if the next candle will respect this formation expect to see price falling next week. In four hour timeframe, price shows a clear ABC to the upside, this may be a correction of the resent move to the downside. The current price move in the ABC up is within key Fibonacci level of 61%.
PRIMARY PROJECTION: Mainly consider sell opportunities if price will remain below the highest price reached on Friday. In this case, price is expected to fall up to the level of the indicated static support.
ALTENATIVE PROJECTION: Consider buy opportunities if price will move and close above the level of the static resistance indicated in this analysis.