Gold has experienced sideways movement in the past few weeks lacking enough bullish momentum to break the 1870 resistance level.
The price has slowly crawled towards the trendline support from where it bounced bullishly on Friday.
Bullish divergence on technical indicators suggests minimal bearish momentum to break the support and drop further.
With NFP coming this week, the price might finally gather enough momentum to break above the resistance and head towards 1920 initially.
Consider looking for buy entries on lower timeframes.
Alternative Scenario
Should the price close below the support, the next destination will be 1753.
The price has slowly crawled towards the trendline support from where it bounced bullishly on Friday.
Bullish divergence on technical indicators suggests minimal bearish momentum to break the support and drop further.
With NFP coming this week, the price might finally gather enough momentum to break above the resistance and head towards 1920 initially.
Consider looking for buy entries on lower timeframes.
Alternative Scenario
Should the price close below the support, the next destination will be 1753.
