Gold weekly outlook (24th- 28thApr)
Gold price is above MA200, Ascending triangle and Measured move up. There are correctional small moves against the direction of the uptrend for the past weeks but price goes strong in one direction as you can see in the chart. If we have confluence of fibo retracement 61.8% level with a trendline it is an even stronger indication that the trend will resume. Thus, Gold is likely to hit above 1300 or new highs next week. 1287 is one crucial price and It will be a different story if it goes below 1281 support trendline.
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