the Gold price broke out of the triangle pattern and closed several times above it on the 4 hour chart. The MACD indicator buy volume is growing again and on higher time frames (12 hour and one day) is a buy signal incoming. Market opening Monday night will be interesting for further movement but the market is likely to retest at least the 2000 $ area next week.
Expect the following two possibilitys:
Nr. 1: Market fail to break the 1980 $ resistance short time after opening and within 24 hours as latest. This will bring the price down to 1950 $ area which is a good buy entry in the next week. Market start up movement after confirming this price area as new strong support.
Nr. 2: Market breaks 1980 $ within 24 hours after opening. Wait for a short term retracement and enter the market at 1980 $
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