The gold 4hr chart here shows that there was quite a rally on Friday as jitters in equity markets saw some money looking to buy gold. Have to see what it does in the week ahead. If it can get back above the kumo it might have a go at breaking back above $1300.00
We can see here on the gold weekly chart that the close was just below the span B of the kumo. It needs to get back above that level and then it could have a go at breaking out. If it were to break out due to more weakness in stocks in the week ahead, the next target would be $1340.00. The weekly momentum is to the upside but the chikou span is yet to cross up.
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