From the close of the monthly candle, it is obvious to see that the market is as strong as imaginable because of the trade war and other events.
Meanwhile, a critical resistance is near 1580, which is a good supply zone and the neckline of previous double top.
The price would move slowly near the resistance, where a bearish candle appeared in weekly chart. If the resistance is broken out, 1900 and further more would be possible.
Now, there are two possibilities for next moving.
1. consolidation above 1500 for 1-2 months and breakout upward;
2. pullback to 1450 and then moving upward.
So the gold is still in bullish market from long-term view, but a little pullback may occur in a short-term view.
Just buy at any pullback.
1. buy at 1494-1500 at the first hit;
2. buy at 1400-1450 zone when bullish signals appear and hold the positions.
Let's wait and see.
Meanwhile, a critical resistance is near 1580, which is a good supply zone and the neckline of previous double top.
The price would move slowly near the resistance, where a bearish candle appeared in weekly chart. If the resistance is broken out, 1900 and further more would be possible.
Now, there are two possibilities for next moving.
1. consolidation above 1500 for 1-2 months and breakout upward;
2. pullback to 1450 and then moving upward.
So the gold is still in bullish market from long-term view, but a little pullback may occur in a short-term view.
Just buy at any pullback.
1. buy at 1494-1500 at the first hit;
2. buy at 1400-1450 zone when bullish signals appear and hold the positions.
Let's wait and see.