The precious metal ended the week a few points below the 1800 level. Price action remains somewhat precarious.

A continuation to the downside could see gold slipping towards the 1785.50 level.

This is unless gold resumes its bullish momentum. However, for this to happen, we need to see gold prices confirming the support level near the 1800 mark.

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The Stochastics oscillator is also signaling a hidden bullish divergence.

So unless gold makes a clean break above 1800 this week, we could expect a short term correction.


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