The
XAUUSD
market rallied again in the trading week, showing a lot of momentum movements. On the weekly timeframe, gold showed three consecutive bullish candles in a row without any pullbacks. A pullback should represent a good buying opportunity. However, the last weekly candle closed, forming a long-tailed bar, which means there was bearish pressure. I think we're going to have sideways moves, followed by a continuation of the current trend up to the next key resistance zone at 2500. On the daily timeframe, we have pretty much the same picture. The last day was as bearish as a candle on the weekly.
XAUUSD
market rallied again in the trading week, showing a lot of momentum movements. On the weekly timeframe, gold showed three consecutive bullish candles in a row without any pullbacks. A pullback should represent a good buying opportunity. However, the last weekly candle closed, forming a long-tailed bar, which means there was bearish pressure. I think we're going to have sideways moves, followed by a continuation of the current trend up to the next key resistance zone at 2500. On the daily timeframe, we have pretty much the same picture. The last day was as bearish as a candle on the weekly.