GOLD WEEKLY OUTLOOK
FUNDAMENTAL
BULLISH:
-global weak data - brexit - trade war tensions (china buy 20bn instead of 50bn agriculture, Russia support china, middle east tensions on oil, eu)+ weak usd (nfp, slow job growth, employment)-us30 to take a dip.
BEARISH:
-brexit resolution, trade war relief of SIGNITURES, strong data
WEEKLY:
premium buy orders around 1488 & 1450
strong weekly support (1465, 1415, 1565)
DAILY:
1515 strong resistant area, daily bearish trend broken
Safer entries: wait 1505/1515/ 1480 break and retest
If break 1480: strong data
*1510 max
Market structure 1404-1518: must retrace 50% - FOR SELL
Just overall awaiting price to set up for the data ahead this week. Main bias is the upside.
BULLISH:
-global weak data - brexit - trade war tensions (china buy 20bn instead of 50bn agriculture, Russia support china, middle east tensions on oil, eu)+ weak usd (nfp, slow job growth, employment)-us30 to take a dip.
BEARISH:
-brexit resolution, trade war relief of SIGNITURES, strong data
WEEKLY:
premium buy orders around 1488 & 1450
strong weekly support (1465, 1415, 1565)
DAILY:
1515 strong resistant area, daily bearish trend broken
Safer entries: wait 1505/1515/ 1480 break and retest
If break 1480: strong data
*1510 max
Market structure 1404-1518: must retrace 50% - FOR SELL
Just overall awaiting price to set up for the data ahead this week. Main bias is the upside.
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