GOLD XAUUSD NEXT WEEK May 27-31.
Here is the market outlook on Gold (XAUUSD) for next week from 27th of May to 31st of May. It is the clear projection of what is mostly likely to happen on gold in the coming week.
ANALYSIS:
In monthly timeframe there is clear rejection formed from almost the same level of the previous monthly candlestick. This is the clear indicator of presence of sellers at this level. Still there are five days for monthly candlestick to close therefore there maybe more ejection until the end of the month.
In weekly timeframe there is a clear three wave swing to the upside as described in previous analysis. This week has managed to close with a formation that has engulfed the previous week analysis. In addition there is clear divergence formed in this timeframe. All these are indicators of a possible sell in the coming week.
In daily timeframe there is a Lear bearish momentum due to clear bearish trend created. There is a clear five wave move to the downside with fourth and fifth waves underway. Price trading below 2400 is a bearish side of gold in this timeframe.
In four hour timeframe there is a clear five wave move down. A sideway movement is expected on opening of the market. This will be in formation of the forth wave of the five wave move down.
PRIMARY PROJECTION:
Watch for sells when price move sideway nearly 2355 with targets at 2300.
SECONDARY PROJECTION:
Buy when price confirms at 2300 level with targets around 2375.
ANALYSIS:
In monthly timeframe there is clear rejection formed from almost the same level of the previous monthly candlestick. This is the clear indicator of presence of sellers at this level. Still there are five days for monthly candlestick to close therefore there maybe more ejection until the end of the month.
In weekly timeframe there is a clear three wave swing to the upside as described in previous analysis. This week has managed to close with a formation that has engulfed the previous week analysis. In addition there is clear divergence formed in this timeframe. All these are indicators of a possible sell in the coming week.
In daily timeframe there is a Lear bearish momentum due to clear bearish trend created. There is a clear five wave move to the downside with fourth and fifth waves underway. Price trading below 2400 is a bearish side of gold in this timeframe.
In four hour timeframe there is a clear five wave move down. A sideway movement is expected on opening of the market. This will be in formation of the forth wave of the five wave move down.
PRIMARY PROJECTION:
Watch for sells when price move sideway nearly 2355 with targets at 2300.
SECONDARY PROJECTION:
Buy when price confirms at 2300 level with targets around 2375.
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.