XAUUSD: Still targeting 1180 before being long in the market
Gold has been making some little upward move but the general trend is still the same and nothing has changed.
If you compare the highest price with the oversold level of STOCH in the past 6 month, you will clearly see that Oversold level was at 1390 and it is now at 1325.
Having said that GOld will rise for sure but not a macro economic environment where there is no inflation, nor any reason to hedge investment. therefore, except the momentary geopolitical news and environment, gold keeps the trend as buyer are not yet in the market.
If you compare the highest price with the oversold level of STOCH in the past 6 month, you will clearly see that Oversold level was at 1390 and it is now at 1325.
Having said that GOld will rise for sure but not a macro economic environment where there is no inflation, nor any reason to hedge investment. therefore, except the momentary geopolitical news and environment, gold keeps the trend as buyer are not yet in the market.
