Lahore, Pakistan -- (ReleaseWire) -- 07/07/2014 -- Omar Eltoukhy from Forex Mentor PRO has released the gold market weekly analysis. Omar thinks that if gold breaks upward, it will find resistance around $1,400 level. Omar teaches Forex Mentor PRO members how to trade gold. Anyone interested can try Forex Mentor PRO program for 7 days for $1 only.
This is what Omar says about the gold market this week: “I am very optimistic this week should yield a potential monster, since we have now had 2 weeks in a row on some very “dinky” weekly candles. Gold does not keep you waiting for too long usually between bigger moves and nice, fat daily ranges. We had a slew of news to get out of the way last week, and US traders will be back in semi-full force (it is after all, the middle of summer). Please watch the video this week, as we now have our eyes squarely on a very big weekly triangle, just BEGGING to be broken. When that happens, I have a feeling we will be in full BONANZA trading mode, and potentially the start of a new trend. Gold has not trended in some time and boy would it be fun if it did. My sinking feeling is that we will have to wait for Fall trading to see it, but there is NO REASON we can’t make mountains of gains before then!!!
This week, look for 1331 and more importantly 1334 to break upwards to give us a sailing move potentially to around 1400ish. Yes, that’s more than 600 pips!!! But, hey, THIS IS SPARTA!! (well, it’s gold actually, but that sounds so much more dramatic). To the downside, don’t get suckered into anything unless we get a clear signal, probably the point to watch is 1312. If that breaks, we may see a ride back down to the next fib level, with a stop off at 1300 before hitting the 50% fib at 1287.27. I am preferring the upside move though and will be much keener to see that happen. But since we trade both ways, we can profit from either.
Don’t forget!! The forum is THE place to be to discuss gold trading, and for those forum enthusiasts, I will be sharing lots of cool stuff this week if all goes to plan. Please watch the video and I hope to see you on the inside BEFORE the next monster, so we can all celebrate together when it happens!!”
About Omar Eltoukhy
Omar Eltoukhy joined Forex Mentor PRO Program as a student. Now he is one of the mentors at this program and teaches traders how to trade gold and forex.
For more information about the Forex Mentor PRO program 7 day trial for $1 only, please visit the following website: