Weekly Gold forecast
Comex gold price trading at 1347$, xau/usd opened slightly higher following Syria’s growing conflict. We have China’s GDP numbers which will have a good impact on gold prices. A good weekly support on xau/usd chart stands at 1325$ for now, If traders breaks this major base and manage to close below our support. Then expect good pressure in gold price upto 1303$ – 1270$.
A good resistance on xau/usd chart stands at 1375$, If traders break this barrier and manage to close above our resistance. Then expect good firepower in gold price upto 1400$ – 1427$ this week.
Gold price forecast conclusion: Gold trend is flat to positive for this week.
Dow Jones forecast
Dow Jones trading in a small range since last week and currently cruising at 24445. US equities are unaffected by Syria’s conflict so far and its trading solid 80 points+ this morning. A good base on US30 chart stands at 24180, If traders breaks this major base and manage to close below our support. Then expect more pressure in Wall Street upto 23800- 23400 this week.
A good hurdle on Dow30 chart stands at 24680, If traders breaks this major hurdle and manage to close above our resistance. Then expect good firepower in Wall Street upto 24990- 25300 this week.
Dow Jones forecast conclusion: Dow Jones looking positive for upcoming week but stay cautious on higher levels.
More will update in daily forecast.