XAUUSD Gold potential direction next week
Updated
On Monday and extending through the week, there's a discernible bullish momentum. The key area of interest lies in the supply zone between 1930-1950. There are two plausible scenarios to anticipate:
The market could experience an immediate surge, surpassing the supply zone ranging from 1930-1950 without significant resistance.
Alternatively, we could observe a minor retraction where the market taps the 1940 mark and then undergoes a slight correction back to the 1900 area.
However, this would be a transient phase, as a subsequent bullish momentum is expected, powering through the aforementioned supply zone.
Should the market display a robust breakthrough beyond the 1950 benchmark, it would be a strong indicator of a sustained bullish phase, potentially soaring towards the 2100 mark.
The market could experience an immediate surge, surpassing the supply zone ranging from 1930-1950 without significant resistance.
Alternatively, we could observe a minor retraction where the market taps the 1940 mark and then undergoes a slight correction back to the 1900 area.
However, this would be a transient phase, as a subsequent bullish momentum is expected, powering through the aforementioned supply zone.
Should the market display a robust breakthrough beyond the 1950 benchmark, it would be a strong indicator of a sustained bullish phase, potentially soaring towards the 2100 mark.
Note
Next Week's SpeculationNote
3 Potential Scalp Zones for MondayIf the Market breaks below 80s then we are in for a sweet Bear Run
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