Gold Outlook for the Week Ahead.
Gold has gathered traction reaching $2424 though weekly settlement is seen at $2411, below $2416 which may act decisive for further upside.
If $2416-$2424 zone is not breached, there's high probability of retracement towards support $2386-$2378 before resumption of bullish wave.
Buyers are likely to resurface at the correction for value bargain causing strong recovery.
Bullish continuation requires clearing through $2416 and a strong break above $2424 to retest record $2450
New upleg is seen to reach $2468-$2488
If $2416-$2424 zone is not breached, there's high probability of retracement towards support $2386-$2378 before resumption of bullish wave.
Buyers are likely to resurface at the correction for value bargain causing strong recovery.
Bullish continuation requires clearing through $2416 and a strong break above $2424 to retest record $2450
New upleg is seen to reach $2468-$2488
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