MARKET OUTLOOK ON GOLD (XAUUSD).
Here is market outlook on GOLD for the coming week from 27th of Feb to 3rd of March. It is a clear projection of what is mostly likely to happen in gold in five days of the coming week.
Price has broken a level that was mostly expected to support price. In previous week analysis price had a clear rejection at the level in daily timeframe that was suggesting that a long term move to the upside is going to began.
Breaking and closing below the level suggest that; price will keep on falling until it find the previous level where it passed with difficulties. But price is expected to have a short term move up before it continues down.
Therefore, in order to catch well sells next week you have to look for a rise in retest of the broken support then after sell to the level of the next support.
Price has broken a level that was mostly expected to support price. In previous week analysis price had a clear rejection at the level in daily timeframe that was suggesting that a long term move to the upside is going to began.
Breaking and closing below the level suggest that; price will keep on falling until it find the previous level where it passed with difficulties. But price is expected to have a short term move up before it continues down.
Therefore, in order to catch well sells next week you have to look for a rise in retest of the broken support then after sell to the level of the next support.
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