S3 pivot broken, but closed the week above it and RSI oversold ready to cross the 30 signalling for a reversal. If the downtrend gets broken, I would be Long gold. Otherwise 1180$ looks like a great place to buy gold.
Also, the DXY looks like it double topped and AUDUSD is oversold, which are bullish for gold.
Also, the DXY looks like it double topped and AUDUSD is oversold, which are bullish for gold.
Commentaire:
Still in the downtrend. Best buy would be around 1180 around the FOMC meeting. If there is a rate hike (which I doubt), I wouldn't recommend buying, as the fundamentals would overshadow the technicals.