Gold shines from the 1616 support.
Gold is rising and rising in one day by 530 points, and I expect that the buying movement will be strong in the middle of next week.
Although the Fed raised the interest rate on the US dollar by 4%, but a day later gold shone towards the 1680.
Monday will be full of corrections, including a correction for gold that may reach 1668 or around it, less or more, but it is certain that it will not be able to continue rising except with a correction that brings it back to the nearest support.
We also see that gold on the daily and four-hour frame has formed for us a reversal pattern (Dobule Bottom), which is a reversal pattern after a downward movement for months.
Be careful with your trading on gold, as it may give fruitful profits, but at the same time, you may lose your capital if you resist it.
Although the Fed raised the interest rate on the US dollar by 4%, but a day later gold shone towards the 1680.
Monday will be full of corrections, including a correction for gold that may reach 1668 or around it, less or more, but it is certain that it will not be able to continue rising except with a correction that brings it back to the nearest support.
We also see that gold on the daily and four-hour frame has formed for us a reversal pattern (Dobule Bottom), which is a reversal pattern after a downward movement for months.
Be careful with your trading on gold, as it may give fruitful profits, but at the same time, you may lose your capital if you resist it.
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