Gold Buy Opportunity

FX:XAUUSD   Gold Spot / U.S. Dollar
The weekly chart of Gold looks interesting for possible buying. The price reached the uptrend line and we have a reversal candlestick pattern. RSI is in the oversold zone and it can give a solid signal confirming the price reversal. In spite of MACD and DMI show the strength of bears, the current levels are good for the price reversal with further upward movement to 1300.00 or the previous highs at 1370.00 level.
The lower time frames can provide good entry levels for buying. Stop orders must be placed below 1200.00 level and take-profit orders at the resistance levels.
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My correction.1216 need to break to make it fakse to buy.fkr now buy
Your analysis look right... It will pull back unless it not breAk 1220 so it still valid with ur analysis
Not expecting too many buyers before reaching lower targets... Will see...
JohnMatuludi WilliamFiltzpatrick
gold is scrap metal, worth nothing. Dump now before they become worthless
Agree with you,i posted last day.thumbs up
The uptrend line was broken...should fall to 1130 :-)
DLavrov NunoMenano
@NunoMenano, may be )
Thank you for you work and for sharing it with the comunity. It's funny that Bloomberg on the 30th of April they published this article: https://www.bloomberg.com/news/articles/2018-05-01/north-korea-is-a-bright-spot-for-billionaire-who-forecasts-crash and on the 17th of July published this article: https://www.bloomberg.com/news/articles/2018-07-19/global-market-calm-at-risk-as-commodities-sink-into-correction. GOLD hit 1210 on the 19th of July. However RSI has not yet reached oversold territory therefore, although its pulling back from 1.210 its may be still too early for a solid bottom. Let's wait and see how it unfolds. Good luck!
Gold already break uptrend line, looking forward to fall continuously to 1150 area
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