Short Analysis:
As gold is creating slightly higher lows and RSI is indicating lower lows, a bearish divergence could be seen. With that being, we can expect gold to drop to 50% fib levels (1070.64) later on the week
Long Term Analysis:
Gold seems to be in a bullish run. However i expect it to come down slightly before make new highs.
Short @ 1079.47 region
Stop @ 1083.12
First T/P @ 1073.77
As gold is creating slightly higher lows and RSI is indicating lower lows, a bearish divergence could be seen. With that being, we can expect gold to drop to 50% fib levels (1070.64) later on the week
Long Term Analysis:
Gold seems to be in a bullish run. However i expect it to come down slightly before make new highs.
Short @ 1079.47 region
Stop @ 1083.12
First T/P @ 1073.77
Trade closed: stop reached:
Bulls are still in control of gold