Gold: Weekly Forecast 22nd - 26th July
The gold, though recently broke new high again, is expected to fall into consolidation again.
The breakthrough this week is unlike what it was in June and the last bearish day candle was the most bearish one since one year ago.
Nevertheless, the gold stays fundamentally strong and holds high demand as a safe haven asset.
This week, if the price were to climb first, sellers can look for sell opportunity at the supply zone around 1437.
For buyers, the key demand zone is seen at 1410 - 1406 where the price began to strengthen and eventually broke out of the previous range.
The breakthrough this week is unlike what it was in June and the last bearish day candle was the most bearish one since one year ago.
Nevertheless, the gold stays fundamentally strong and holds high demand as a safe haven asset.
This week, if the price were to climb first, sellers can look for sell opportunity at the supply zone around 1437.
For buyers, the key demand zone is seen at 1410 - 1406 where the price began to strengthen and eventually broke out of the previous range.
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