Possible scenario of gold movement in the new week
Friends, As you can see, in the first three days of last week, gold moved in the direction of the possible downtrend that was drawn, and made a very strong reversal from the support range that was drawn near the 1720 area.
Now, considering the weekly pinbar candle and the very strong daily candle that he did on Thursday, I consider it possible for gold to continue to rise. And if the white downtrend line breaks and the rejects the price of 1765, it can reach 1800 areas.
This analysis if the price breaks the low uptrend line and goes down from 1720, the uptrend scenario will be rejected and the price can fall to the range of 1690.
Of course, this week we have a lot of influential news ahead that can affect the movement of gold. So consider this news.
Which route do you think gold will take this week?
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