FinancialMarkets Gold Technical Analysi (XAUUSD) - Weekly Update
Expecting further price increase in Gold (XAUUSD)
SHORT Case
· Gold reached bottom around $1930 as calculated in previous reports, where we suggested not to do any Short Sell trades.
· Gold still looking strong until at least 2000 where we might find a good sell opportunity around $2010—$2020.
· We would not recommend doing any Short Sell trades on gold currently.
LONG Case
· We stand by our last calculations of Gold price reaching the region of $2050—$2100.
· Whilst we expect some sort of push back down, we expect this to be another buying opportunity.
· We would consider capitulating if Oil breached the last low around $1930.
Gold
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