Still seeing an upward channel on GOLD. May see a test of the support line before a push-up to 1980 level.
Wait for buy entry using RSI and moving over crossover.
Wait for a buy signal on lower time frames. The trend is respecting 200MA and MACD shows a bullish bias. Targetting 2000 resistance level.
XAUUSD / GOLD
Week from 27 July
Fundamentals: Strong US-China tensions, increasing severity with COVID-19, Increased jobless claims and Microsoft and Apple taking huge hits. P/E ratio hits all-time highs signalling an overbought and overvalued market. However, the federal reserve intends to release an additional $3 trillion which could cause the price to bounce of...
Earning's reports this week sure to push the Nasdaq up again but before that, we could be seeing some sell-offs today preparing for the big buys from Thursday, 23 July.
