SteadyFund

As explained in my weekly post, I am bullish on gold this week. Therefore, I will look for buying opportunity from 3388-3400, targets by 3487 for today.

In my last week's post, I mentioned that the inverted head and shoulder has been formed and we should see price soaring up as long as 3300 holds. Indeed in this past week, after touching briefly 3300, price went through a few days of consolidation. I almost thought the trend has been reversed. However, I still followed my weekly instinct. And this week closes above 3400. We should see more price pump next week. I am expecting another ATH to at least 3600.From 2D TF, gold respected the trendline well and I will look for buying opportunity from 3400 next week.

Gold indeed rose from 3350 zone yesterday and almost touched 3400. As long as 3340 holds, I am bullish on gold. I will look for buying opportunity from 3370-3375. First target 3400Ultimate target for today 3430

Gold indeed rejected from 3350 yesterday and technically formed pattern for bearish path. However, due to fundamentals, it quickly reversed and broke 3350 resistance. This is how uncertain the market is. But it did follow my weekly view. Therefore, I am switching back to bullish view on gold for the rest of the week.I will look for buying opportunity when it retest 3350. Target for today will be 3400.

Gold respected the trendline very well yesterday. After almost touching 3295, it slowly climbed up to 3337 and closed the day above 3320. 3337 is an important resistance level to watch. If this level holds, gold will drop and may test 3280 again before another bullish run. However, if the level is broken, we could see the price test 3400 resistance again.Personally, I do feel gold needs another leg down before bullish run. Let's see what the market plays out today.

As explained in my weekly post, I am bullish on gold this week. However, in smaller timeframe, gold has not turned into bullish yet. I am expecting some consolidation between 3280 and 3340 for a few days before it takes off. As indicated in the chart, I will try to sell from 3340 or buy from 3280 today.

In my last week's post, I mentioned that gold would potentially form an inverse head and shoulder pattern. In deed, the structure has been formed after last week's closing above 3300. In daily we also noticed that the trendline structure has been broken. Currently price is retesting the trendline. If daily candle respects the trendline, we would see a strong pushing on the price towards another ATH. For next week's trading plan, I will closely monitor the trendline and 3280-3300 support. As long as this support holds, I am bullish on gold.

Gold has been very volatile these days. A single news will move the market up and down. After it went according to expectation to 3400, it quickly dropped and break 3360 support. In short term, it has turned into bearish market, as the trendline was broken. However, in my weekly post, I stated as long as 3330 is held, I am holding bullish view.Therefore, I expect the price to consolidate today between 3330 and 3360. I will sell from 3360 zone and buy from 3330 zone.Bear in mind that today is NFP day. The market will be even more volatile. Follow your trading plan and protect your account. Sometimes no trading is a good trade.

Gold has bounced from 3350 for a lot of times yesterday. This indicates a resume of bullish power. I am expecting bulls continue to soar today. I am looking for buying opportunity from 3365, first target 3390, ultimate target for today 3430.

Gold retraced very hard yesterday and closed below 3365. This suggests bull is not that strong. However, as long as 3330 holds, I will buy towards 3390.