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  • GOLD - Weekly Report



    After retesting 1400.00 support level on Friday, gold rebounded with the start of the week attempting towards 1428.00 resistance level once again, a break above this resistance may extend the correctional even further, probably towards 1460.00 areas. On the other hand, the bearish continuation scenario may evolve if price breaks back below 1391.00, accordingly, as long as trading remains above the aforementioned level, we will anticipate further upside this week.

    ** Short term ( Less than three months)
    ** Chart is based on GMT+2 timing

    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.

    Based on the charts and explanations above, we prefer to long gold above 1400.00 targeting 1410.00,1428.00 and 1450.00. Stop loss below 1390.00


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