Pashabxl

GOLD: The trend remain the same. Still Bear

FX:XAUUSD   Gold Spot / U.S. Dollar
166 0 4
FED will not yet increase its interest rate. Geopolitical instability gossip in not being bought in the market.
There is no reason to hedge Indexes, FOREX or any other product of the market, nor any reason to be on the inflation side yet even if FED will increase somehow its interest rate but not earlier then December 14.
Therefore, the mechanical trend of GOLD             remain on the downside.
When indicators show an oversold level, there may be a tehcnical correction on the upside, but this technical correction may not be over the blue trend line .
1180 remain the main target before deciding to enter or not the market on the long side of the story.
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