As per my analysis back in Dec 2016, Gold was hovering at strong support that dates back all the way to 2006.
It has again reached that very same support and there's a high probability of an uptrend from here onwards towards a target of 1350 for now.
RSI was not as heavily oversold in Dec 2016 as it is now.
Please refer to my previous chart:
Please ensure to use your analysis further and perform risk assessment accordingly. However I believe strong uptrend is around the corner!
Good luck and stay safe!
It has again reached that very same support and there's a high probability of an uptrend from here onwards towards a target of 1350 for now.
RSI was not as heavily oversold in Dec 2016 as it is now.
Please refer to my previous chart:
Please ensure to use your analysis further and perform risk assessment accordingly. However I believe strong uptrend is around the corner!
Good luck and stay safe!
Comment:
Looks like an uptrend has just begun despite trying hard to break through the support!
Comment:
Well it broke all the previous supports and right now at a good position to buy as it strongly rebounded off 1160 level and few good pips to be made on the way up.
