GOLD (XAU/USD) – Week 13 – Monitoring the price action.
Updated
Gold ranged the whole week as the US Treasury yields play a slighter role in determining the market direction.
From last week, no significant change occurred to our analysis and we are still expecting the price to reach the resistance area. When we will reach that level, we will closely monitor the price action to decide if the bears are still hanging around or if the price will continue to increase.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
From last week, no significant change occurred to our analysis and we are still expecting the price to reach the resistance area. When we will reach that level, we will closely monitor the price action to decide if the bears are still hanging around or if the price will continue to increase.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed manually
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.