Gold is trading in a sharp bullish trend since the beginning of April. From the middle of May, the market became extremely overbought and finally, we saw a retracement this week.
The price dropped all the way down to the support of a rising parallel channel .
With a consequent bullish reaction, we see a willingness of buyers to buy.
Now we can expect a bullish trend continuation with a new higher high higher close on a daily. This week the analysis below explains the scenario thats likely to happen during the opening of the markets.
For all traders that are eyeing on GOLD (XAUUSD) be keen and capture the likely movement of the week.
Well explained
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