GOLD ANALYSIS
XAU Analysis
On the Weekly timeframe, price is forming a bullish reversal candle at 1452.927. If the Weekly closes, then there is the potential for reversal of price.
On Tuesday, price formed a bullish pinbar at the previous weekly resistance turned support followed by a push to the upside today which suggest that further price movement in that direction is probable.
On the Fundamental front, Trade tensions between the US and China is still uncertain so that will likely support Gold which is considered as a safe haven asset in times of uncertainty in the markets.
So in a nutshell, if the situation with US and China continues to be uncertain, going into next week we might see buyers coming into the market to push price higher.
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