Gold: Bullish Outlook After Bullish Breakout Sustained
Gold Analysis- forecast Next Week 28-Aug to 01-Sep-2023
Looking at the last week candle, the Gold Made bounce back from 1885 Level. This is multiple rejection support now. Weekly green candle suggest that upcoming week can be bullish for Gold. Gold also made bullish breakout of the downward trend last week and I recon the bullish bounce will continue till 1937.20-1942.80 Level.
After the Powell speech on Friday, the 1900 1910 level is sustained and price reclaimed 200 DMA. Which is also a positive sign to me for Gold in upcoming week. My target for Buying from 1906 is 1937.20.
For next week important level will be 1900 and 1940. If 1900 level is broken on down side we will see 1885 retest, On Flip side if 1940 level is broken by bulls we may see 1980-1985.
Next week is NFP week. This week will be very crucial as FED will be watching NFP results for Interest rate clues in September. Good Luck !
Do comment on the weekly idea and Odds.
Looking at the last week candle, the Gold Made bounce back from 1885 Level. This is multiple rejection support now. Weekly green candle suggest that upcoming week can be bullish for Gold. Gold also made bullish breakout of the downward trend last week and I recon the bullish bounce will continue till 1937.20-1942.80 Level.
After the Powell speech on Friday, the 1900 1910 level is sustained and price reclaimed 200 DMA. Which is also a positive sign to me for Gold in upcoming week. My target for Buying from 1906 is 1937.20.
For next week important level will be 1900 and 1940. If 1900 level is broken on down side we will see 1885 retest, On Flip side if 1940 level is broken by bulls we may see 1980-1985.
Next week is NFP week. This week will be very crucial as FED will be watching NFP results for Interest rate clues in September. Good Luck !
Do comment on the weekly idea and Odds.