The gold has made strong gains in the last 2 trading days and finally broke a new high first time in more than 3 months.
Also, this marks the 4th consecutive weekly depreciation for the US stocks, with the most recent week being the weakest week.
With the dollar being rejected and fell from the high and the US stock market continues to plunge, it clearly shows that the gold stands a good chance to climb further.
In this week, the gold is most likely to climb and test the 618 level of the falling wedge.
The price may find some resistance and drop but would most likely be temporary and the price will rise again.
Also, this marks the 4th consecutive weekly depreciation for the US stocks, with the most recent week being the weakest week.
With the dollar being rejected and fell from the high and the US stock market continues to plunge, it clearly shows that the gold stands a good chance to climb further.
In this week, the gold is most likely to climb and test the 618 level of the falling wedge.
The price may find some resistance and drop but would most likely be temporary and the price will rise again.
