• Vasily Trader

GOLD (XAUUSD) Price Action & Outlook for Next Week

For a quite long period of time, I remain bullish biased on gold .

Wednesday's bullish move and bullish violation of a falling trend line on 4H was a quite important bullish clue to consider.

After some stagnation and consolidation, the price has dropped retesting the broken trend line .

A positive bullish reaction, especially on hourly, makes me think that next week bullish continuation will follow.

The price may retest a current local 4H high and then go even higher.

Good luck and have a great weekend!