Gold - Weekly Forecast 29th April - 3rd May
The gold has climbed last week as it proceeded with the retracement after breaking below the neckline of a head n shoulder.
This is also considered a break-below of a range at the top of the 34-month symmetrical triangle which will bring forth a bearish market.
In this week, we will observe the price closely at its current level and as it creeps into the supply zone at 1288 and the broken neckline.
Since the dollar has taken a bullish stance after it broke its previous high, it will boost the case of a bearish gold in the coming week.
This is also considered a break-below of a range at the top of the 34-month symmetrical triangle which will bring forth a bearish market.
In this week, we will observe the price closely at its current level and as it creeps into the supply zone at 1288 and the broken neckline.
Since the dollar has taken a bullish stance after it broke its previous high, it will boost the case of a bearish gold in the coming week.
