Gold Weekly Price Forecast – Gold Markets Running Into Resistance

Gold Weekly Price Forecast – Gold Markets Running Into Resistance

From fxempire.com

Gold markets have spent most of the week trying to rally, but it looks as if the $1800 level continues offer a massive amount of resistance. In fact, it’s worth noting that there is a lot of supply at the $1815 level, so we need to get above all of that in order to become truly bullish. The fact that we are attempting to form a bit of a shooting star does suggest that were ready for a bit of a pullback, which does make sense considering how bullish we had been recently. This does not necessarily mean the gold is going to break down, but with the Federal Reserve likely to continue tightening monetary policy, that ... (full story)

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