Gold pushed higher above the 3000 phycological barrier last week. Although it came back to retest this area on Friday, it was promptly rejected by the resistance area now turned support.
I will not be surprised to see Gold retest this zone early next week before it takes of in search of new highs.
my Initial target for this week is 3100, however, the market might decide to be sluggish and wait for job reports NFP next week before setting the new high next week.
Overall, Gold is destined to push to 3500 and possibly above before we re-evaluate its trajectory.
I will not be surprised to see Gold retest this zone early next week before it takes of in search of new highs.
my Initial target for this week is 3100, however, the market might decide to be sluggish and wait for job reports NFP next week before setting the new high next week.
Overall, Gold is destined to push to 3500 and possibly above before we re-evaluate its trajectory.
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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.