Technical analysis update: XAUUSD (26th July 2021)
Technical indicators are mixed for gold. Yet fundamentals remain bullish. As gold continues to move along upper channel line we believe that it is poised for further move up. Our short term price target remains 1850 USD and our medium term price target remains 1875 USD.
Prior thoughts from 14th July 2021:
More prior thoughts from 30th June 2021:
Here we hinted at divergence between price and RSI. We also correctly predicted reversal in price.
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
Prior thoughts from 14th July 2021:
More prior thoughts from 30th June 2021:
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
Comment:
Investors should keep in mind that there is FOMC this week and we might see volatility in price of gold.
