The gold has climbed gradually through the week while supported by a rising trendline.
The price has yet to reach the supply zone and thus it may continue to climb.
On an important note, gold has shown some kind of divergence from the dollar.
Although the dollar has rebounded strongly, the gold was little affected and eventually climbed further.
The US stocks market is also showing some strong sell-off on the last Friday.
There's also a surge in the demand for yen which is a sign of an increase in the safe-haven asset.
Therefore in this week, the gold may defy the technical analysis which actually points to a bearish gold.
The gold is most likely to continue to climb gradually till it reaches the supply zone, and after some consolidation, there's a chance where the price will surge.
The price has yet to reach the supply zone and thus it may continue to climb.
On an important note, gold has shown some kind of divergence from the dollar.
Although the dollar has rebounded strongly, the gold was little affected and eventually climbed further.
The US stocks market is also showing some strong sell-off on the last Friday.
There's also a surge in the demand for yen which is a sign of an increase in the safe-haven asset.
Therefore in this week, the gold may defy the technical analysis which actually points to a bearish gold.
The gold is most likely to continue to climb gradually till it reaches the supply zone, and after some consolidation, there's a chance where the price will surge.
