Gold (XAUUSD) Continues Super Bullish | $2,222 Next?

21 feb 2020

My last analysis for XAUUSD (Gold) came in back on Dec 24, 2019... We mentioned a bullish Gold hitting $1600 in January 2020...

This is exactly what happened, you can see it below:

Now the charts are looking really bullish for Gold, this time around, if this bullishness continues we are likely to see $2,200+.


Gold (XAUUSD) Chart Signals & Indicators

• We have good volume and prices trading above EMA10, EMA300 and MA200.
  
• The RSI and MACD are in the bullish zone.
  
• Full green candle this week while prices print new highs.
  

Note: There is bearish divergence with the indicators, MACD and RSI, signaling that a drop can take form soon... Right now this divergence isn't showing much influence on the price but can come into play later down the road.

Right now XAUUSD is really bullish and looks like it will continue to grow.

Namaste.