With gold showing a low resistance path that could pull it back to the low's that we saw in the last week or so. With many analysts offering a much higher price in the upcoming months to years I feel the uptrend will still be respected.
We can see some ranging that could show a pull back to the support around 1700, if a re-test does occur, expect a false breakthrough possibility with sellers out-weighting buyers, from this I believe the trend should bull up back to the resistance. Following a possible break of resistance we could see a big bull pushing these numbers to the 1800 analysed by many, even further if enough momentum is generated from the lows, this may be slowed by some possible accumulation but Gold shows promise to fight to these highs.
USD numbers should help with this with USD being weakened at multiple times last week.
DO NOT TAKE THIS AS GOSPEL, This is my idea that could become possible. Any comments appreciated, new to the game.
We can see some ranging that could show a pull back to the support around 1700, if a re-test does occur, expect a false breakthrough possibility with sellers out-weighting buyers, from this I believe the trend should bull up back to the resistance. Following a possible break of resistance we could see a big bull pushing these numbers to the 1800 analysed by many, even further if enough momentum is generated from the lows, this may be slowed by some possible accumulation but Gold shows promise to fight to these highs.
USD numbers should help with this with USD being weakened at multiple times last week.
DO NOT TAKE THIS AS GOSPEL, This is my idea that could become possible. Any comments appreciated, new to the game.