Gold probably will makes a W formation , we hold on the candle close in bullish to buy. However if gold breaks the strong support it will be for a good sell, means 261 pips in seen!
Gold probablement va faire un W , nous devons attendre la bougie se fermer bullish pour acheter. Cependant if L'or casse le support ce sera une vente qui assurera 261 pips !
Let's get it !
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itSkushSharma
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All depends on if Feds raises Rates or not on Sept 21. If feds raise interest rates, Dollar will have value short term, Gold will do a pullback because of market sell off in the mining sector. But raising rates will hurt corporate earnings; thus we will see substantial market sell off. This would create a domino effect, hurting the chances of Hillary becoming a president. If feds don't raise rates then we have at least 2 month of Gold bull run, since the next fed meet is in December. I think the Feds won't raise rates before election. Right now the chances of rate hikes is at 11% and December is now 44%. Next week we might see some side ways action possibly lower around 1308-1305. But after Yellen Speech of no hike, I expect a surge upwards in Gold price, and gains in mining sectors. But again safer to listen to Yellen Speech and then take position accordingly. (My) Fundamental analysis and (your) Technical analysis go hand in hand.