THE BULLISH ARE COMING THE BULLISH ARE COMING

12. Aug. 2019

After breaking through the short term resistance at 1510, as expected it came back down to turn the resistance into support. The hourly candle closed bullish after retesting the new support at 1510. In the coming week, I'm expecting gold to test 1600. Gold since April/May has had a very strong bullish momentum, taking advantage of the dollar's weakness. With Trump's trade tensions with China, interest rate cuts to the dollar, and economic turmoil overall, expect gold in the coming months to test all-time highs and potentially break to new all-time highs.