Lingrid | GOLD Weekly Price ANALYSIS
Gold fell after breaking through key levels. The main economic factors are the bond markets, which continue to show rising yields. This has a negative impact on gold. However, it should be noted that the market is oversold, and I believe that we may see a pullback from the demand zone. The market was ranging, but on Friday it bounced off the level and closed above the previous two-day highs. On the daily timeframe, we have a swing zone as well, which pushed the price higher. As you can see, the market has reacted to this zone a couple of times before. Yes, we have negative news for gold, and it is risky to go long, but as traders, we should trade what we see. So let's see what happens next week.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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