Hi traders hope everyone had a good weekend.This is my analysis for gold this upcoming week. Okay last week identified the key area of broken support looking to turn resistance at the 1585.48 level. It’s a area to start and look for a pullback and a potential move to the downside. We are also forming somewhat of a head and shoulders pattern ,so going into this week the 1585.48 level is a nice place to start and look for those bearish patterns and if we get the rights kind of bearish setup in this market we’re going to be looking at selling the market down to the next key level of support the 1536.74 level, and if we get a break through that level ,our next targets will be 1515.40.
Hope this analysis was helpful.
Feel free to like and follow for more ideas!!!
Good luck and hope you all have a profitable week.
Hope this analysis was helpful.
Feel free to like and follow for more ideas!!!
Good luck and hope you all have a profitable week.