Gold Closing High this Week

Last week Gold closed high, reaching its highest peak since March last. Since March last Gold has been bearish on a weekly time frame until October 2022. Can we expect Gold being bullish again this whole quarter? Let's sit back and watch. With that being said, we should expect the bullish movement this week as also the inflation is looming. However, tomorrow on Monday we should expect a more bearish movements till Tuesday morning where it will take a bullish movement throughout the day till Wednesday.

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Last Week Analysis on Gold

The last week's movement was bit tricky, however the market moves whatever direction it pleases. We hoped that on Tuesday Gold would hit the support level and rally to the resistance. The opposite happened as it rather went through the support and traded below the support for some time. On Wednesday it went back up and nearly hit the resistance, but it went back below support before it could penetrate through into support and resistance zone on Thursday after the PPI (Producer Price Index) statistical data release. Please wait for our signal on this very website, however the signals page will be removed as from today and all signals will be posted on the homepage where tutorials and analysis are posted. Trade responsibly because your capital is at risk.

Tutorial about Gold's Movement

Gold Signal

Symbol: XAUUSD/GOLD Opportunity: Buy Main Pattern: N/A Order Type: Pending Order Entry Point: 1941.41 - 1941.57 Stop Loss: 1938.90 Take Profit: 1943.71 (1) 1945.46 (2) 1947.55 (3) These trading ideas can only be applied to the intraday trading strategy and remain valid 24 hours after publication. They are based on historical data and analysis and do not guarantee constant profit. You remain solely responsible for your decisions and the financial risks you take. In case your pending order is not executed within a single trading day, please, do not forget to cancel it .

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