Potential movement on gold

12 jun 2016

Here's my prediction on gold future movement, we all saw a big bearish divergence with RSI on Friday, and a sell on Friday as well, I think gold may resume it's selling when market opens again since DXY looks like its gonna going up. There are lots of data coming up next week, especially FOMC, I don't think mama Yellen is gonna YOLO and raise interest rate in June, so which can be a bullish news for gold. Just in case if any data shows a really positive number, on bearish side, i'm looking for 1260 and more to 1240ish where there were lots of noises previously. On bull side, i'm looking for 80, 90 and then we may retest 1300 again, who knows, overall I'm still bullish on gold since global economy sucks right now..:(