Gold ; bullish or bearish for next ?
Today's NFP figure was increased volatility and price was falling down from 1980 to below 1950 and it was closed week under support 1950.
For next week, I can expect the price to retest the 1936-1940 support and then move back above the 1970 level. However, we should be careful to break the support ahead, which could lower the price to 1920-1915. The markets are still waiting for economic news such as the debt ceiling and interest rate of the Federal Reserve. Finally, I expect that after the market calms down, the price of gold will rise at the beginning of the week and jump to conquer 1980.
For next week, I can expect the price to retest the 1936-1940 support and then move back above the 1970 level. However, we should be careful to break the support ahead, which could lower the price to 1920-1915. The markets are still waiting for economic news such as the debt ceiling and interest rate of the Federal Reserve. Finally, I expect that after the market calms down, the price of gold will rise at the beginning of the week and jump to conquer 1980.
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