#Gold: Weekly Forecast :12-18 Feb 2023

Posted by Clara Mellor on 04:17 with No comments

Gold

The gold market initially tried to rally during the week but continues to see quite a bit of resistance above. In fact, we had multiple inverted hammers formed during the week, and now it looks like we are ready to drop. The $1880 level has been important more than once, and therefore it’s likely that we see selling pressure every time we rally, and I do think that we probably have a little bit more to the downside. For what it is worth, the 50-Week EMA is closer to the $1800 level at this point. That could make a nice target, but we will have to wait and see. Alternatively, if we break above the top of the candlestick, then we could get to the $1950 level.

For more forex gold Indices analysis, Signals, and Account management services text me on my telegram: Claramellor

Best Forex Signal telegram

Forex Account Management Services

#Singapore #Dubai #Brasil  #UAE #USA #Amsterdam #Brussels #Dublin #Lisbon #London #Paris #fx #fxinvestment #fxanalysis #fxtrader #scalping #xauusdgold #xauusdsignal