Gold Weekly Price Forecast – Gold Markets Pressing Major Downtrend Line

Gold Weekly Price Forecast – Gold Markets Pressing Major Downtrend Line

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Gold markets have initially pulled back during the course of the week to show signs of weakness but have turned around completely to show continued strength. That being the case, the fact that we ended up forming a bit of a hammer shows that we are very likely to continue to go higher. If we can break above the $1850 level it is very likely that we go looking towards the $1950 level. On the other hand, if we were to turn around a break down below the weekly candlestick, that could be somewhat negative, but I still think that the double bottom near the $1700 level is essentially massive support.

Gold Price Predictions Video 17.05.21

If we were to turn around a break down below the $1700 level, the market would fall apart and go looking towards the $1500 region. This all comes to the value of the US dollar, and as the US