Gold ; what is next? Bullish or bearish
Today's NFP figure was increased volatility and price was falling down from 1980 to below 1950 and it was closed week under support 1950.
For next week, I can expect the price to retest the 1936-1940 support and then move back above the 1970 level. However, we should be careful to break the support ahead, which could lower the price to 1920-1915. The markets are still waiting for economic news such as the debt ceiling and interest rate of the Federal Reserve. Finally, I expect that after the market calms down, the price of gold will rise at the beginning of the week and jump to conquer 1980.
For next week, I can expect the price to retest the 1936-1940 support and then move back above the 1970 level. However, we should be careful to break the support ahead, which could lower the price to 1920-1915. The markets are still waiting for economic news such as the debt ceiling and interest rate of the Federal Reserve. Finally, I expect that after the market calms down, the price of gold will rise at the beginning of the week and jump to conquer 1980.
