Hello there, let's discuss what could probably happen in the gold market in the coming week.
As you might see, the gold order flow has been bearish for the past few weeks now, as indicated in the weekly timeframe by a trendline drawn in the chart, showing us that gold might continue to go down to the 1885.325 support level area. You may ask why selling gold. See the answer below:
Important Note: An inside bar that formed at the key level area (trendline resistance area) in the weekly chart is a clear selling confirmation of this downward move. There may be a little pullback though, which could make the coming week's weekly candlestick have a wick/tail before completely going down to the 1885.325 support level area. If gold succeeds in breaking this level to the downside, it could head down to 1804.873.
But, watch out to sell gold in the coming week in the lower timeframes like h4 downward.
Conclusion: Gold flow is bearish, and it will sell in the coming week.
As you might see, the gold order flow has been bearish for the past few weeks now, as indicated in the weekly timeframe by a trendline drawn in the chart, showing us that gold might continue to go down to the 1885.325 support level area. You may ask why selling gold. See the answer below:
Important Note: An inside bar that formed at the key level area (trendline resistance area) in the weekly chart is a clear selling confirmation of this downward move. There may be a little pullback though, which could make the coming week's weekly candlestick have a wick/tail before completely going down to the 1885.325 support level area. If gold succeeds in breaking this level to the downside, it could head down to 1804.873.
But, watch out to sell gold in the coming week in the lower timeframes like h4 downward.
Conclusion: Gold flow is bearish, and it will sell in the coming week.