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Gold: Weekly Forecast 15th August 2021
The gold plunged to a 14-month low at as the market opened last week.
It quickly made a sharp rebound and continued to climb through the rest of the week, showing a build up in the buying momentum.
As of current, the gold may face some resistance at the FR618 level, and slightly higher will be the breakout level at 1795.
This week, we expect the market to shed off some gains at the beginning and continues to climb later.
Overall, we will focus on buying and looking for entry from 1770 onwards to 1760.
It quickly made a sharp rebound and continued to climb through the rest of the week, showing a build up in the buying momentum.
As of current, the gold may face some resistance at the FR618 level, and slightly higher will be the breakout level at 1795.
This week, we expect the market to shed off some gains at the beginning and continues to climb later.
Overall, we will focus on buying and looking for entry from 1770 onwards to 1760.
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