GOLD : TECHNICAL ANALYSIS BASED ON WEEKLY TIMEFRAME, 03-03-2018
This is my second time sharing my trading idea about gold and below was my previous post.
Current view showed gold was tried to break support on prices 1304.54 but it tried to move higher and ran into resistance on prices 1340.95 . It make gold prices appear to be having a difficult time moving higher as the dollar remains robust. Strong commentary by new Fed Chairman Powell, lifted the dollar which weighed on gold prices.
My forecast on gold prices for next week (05 - 09 March 2018) is gold will move lower and make second wave of downtrend to break support area to reach low trendline.
NOTE : This is just trading idea with others. Not recommended to follow as a signal. Trade as your own risk.
Current view showed gold was tried to break support on prices 1304.54 but it tried to move higher and ran into resistance on prices 1340.95 . It make gold prices appear to be having a difficult time moving higher as the dollar remains robust. Strong commentary by new Fed Chairman Powell, lifted the dollar which weighed on gold prices.
My forecast on gold prices for next week (05 - 09 March 2018) is gold will move lower and make second wave of downtrend to break support area to reach low trendline.
NOTE : This is just trading idea with others. Not recommended to follow as a signal. Trade as your own risk.