GOLD is Bullish but Watch the Price Action

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

GOLD is bullish. The weekly candlestick configuration is suggesting a further move up. However, we need to watch the US data today for the exact price movement.

1830-35 is the POC zone. We should see a move up according to the trend. Targets are 1845, 1850, 1855 and 1865. However if the market breaks below the 1830 we should see a drop towards 1822 and 1817. At this point the price is bullish but watch for the price action later in the day. Buying the dips is a preferable scenario.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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