Gold - Weekly - Up... Up... And awaaaaay...!!!
So Gold managed to close above its nemesis - $1295.
Now, if this would have been just a Daily, then I would say that there is a risk of some downside. Still, a possibility of a quick retracement before heading higher isn't off the table.
My idea here is that it could re-test the 1295 or maybe slightly lower (23.6% or 38.2% Fibonacci) and then give us good move higher.
Looking for BUY levels after it does a bit of retracement (mentioned above) and aiming for $1340-$1350, for now.
There is not much to discuss here, to be honest.
Keep an eye on the price action!
Oh, and happy New Year, everyone! I wish you all a lot of profit in 2018!
Now, if this would have been just a Daily, then I would say that there is a risk of some downside. Still, a possibility of a quick retracement before heading higher isn't off the table.
My idea here is that it could re-test the 1295 or maybe slightly lower (23.6% or 38.2% Fibonacci) and then give us good move higher.
Looking for BUY levels after it does a bit of retracement (mentioned above) and aiming for $1340-$1350, for now.
There is not much to discuss here, to be honest.
Keep an eye on the price action!
Oh, and happy New Year, everyone! I wish you all a lot of profit in 2018!