Gold Weekly Update
Hi fellow traders,
New week will begin and we have some thoughts for Gold in the coming days and weeks.
According to technical point of view let's say that gold likely finds a support at around the level of 1251.90 for the last week on our weekly chart TF. Anyway that support level can also be broken and Gold will fall to the next support levels at around 1236.20 -1226.26 due to some big events in June 2016( Brexit referendum on 23rd June, but Fed interest rate hike decision on 15th June 2016) ; the way to push Gold up to a higher level is open and it (see the estimated time in Jan 2017@1365.00) can also be happened, if some scenarios as following happen: Britain yet gets out of EU in this coming referendum on 23rd June 2016 and Fed will hike 0.25 basis points the overnight interest rate on 15th June 2016.
Trade well and safe!
Makkaba team
New week will begin and we have some thoughts for Gold in the coming days and weeks.
According to technical point of view let's say that gold likely finds a support at around the level of 1251.90 for the last week on our weekly chart TF. Anyway that support level can also be broken and Gold will fall to the next support levels at around 1236.20 -1226.26 due to some big events in June 2016( Brexit referendum on 23rd June, but Fed interest rate hike decision on 15th June 2016) ; the way to push Gold up to a higher level is open and it (see the estimated time in Jan 2017@1365.00) can also be happened, if some scenarios as following happen: Britain yet gets out of EU in this coming referendum on 23rd June 2016 and Fed will hike 0.25 basis points the overnight interest rate on 15th June 2016.
Trade well and safe!
Makkaba team
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