MARKET OUTLOOK ON GOLD (XAUUSD).
Here is market outlook on GOLD for the coming week from 27th of Feb to 3rd of March. It is a clear projection of what is mostly likely to happen in gold in five days of the coming week.
Price has broken a level that was mostly expected to support price. In previous week analysis price had a clear rejection at the level in daily timeframe that was suggesting that a long term move to the upside is going to began.
Breaking and closing below the level suggest that; price will keep on falling until it find the previous level where it passed with difficulties. But price is expected to have a short term move up before it continues down.
Therefore, in order to catch well sells next week you have to look for a rise in retest of the broken support then after sell to the level of the next support.
Price has broken a level that was mostly expected to support price. In previous week analysis price had a clear rejection at the level in daily timeframe that was suggesting that a long term move to the upside is going to began.
Breaking and closing below the level suggest that; price will keep on falling until it find the previous level where it passed with difficulties. But price is expected to have a short term move up before it continues down.
Therefore, in order to catch well sells next week you have to look for a rise in retest of the broken support then after sell to the level of the next support.
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.