Gold – When Gold Meets Support?

03 Dec - Gold Weekly

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Hi All,

Since I highlighted the rising wedge pattern on the 29th Oct (see article), gold has been falling according to my plan. Price also broke the short-term support, as mentioned on the 13th Nov (see article) and it moved even lower.

Price is now heading back to where we were in June 2013 and it looks like it’s about to test the major support level (~1180 – as shown above). Where will Gold move next? Well, I can’t tell just yet but I am looking forward to find that out as Price Action unveils itself.

Thank you for reading and happen trading!!

 

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