FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
The closing of a Pinbar on Friday evening has thrown a slight spanner in the works for the feeling I was getting towards Gold as up until that point it was looking very bullish . The Pinbar close does normally represent a bearish reversal coming shortly, however on this I am not too sure. My sentiment towards Gold still remains Bullish as I believe it can travel a bit further to the upside of at least the monthly 1298.34 resistance before then falling. However, the huge bull push on the previous candle could show the buyers have now run out of steam the the bears are ready and waiting. This is the reason while my thoughts are neutral, although I have a bullish sentiment, in terms of opening a position I would want more confirmation on the results of the Pinbar. MA's are also showing a nice convergence with the Stochastic so let's see how this opens this evening.
Feedback good or bad is always welcome!

Trade Safe,

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