After the bad news on the Gold we had a drop in the market and a bearish close of the daily.
We might see two scenarios this week.
The first scenario is a drop to 1940 – 1930 zones, if our close is above the lower zone, gold might stay in the Pitchfork Fib and to test the 1975 – 1985 zones (0.618), if the testing was positive we can see a small pullback to the 1972 – 1968 zones and a pump to the 2000$ area.
The second scenario is a drop out of the Pitchfork to the area of 1905 – 1895 zones, if our close is bellow these areas we can see a pullback to the 1930 – 1937 zones and a big dump to 1865 -1858 zones
Disclaimer: These are expectations for the upcoming week, don’t take it as a financial advice.
