Gold / correction finished / long entry & good risk/reward ratio
Psychological / Fundamental Analysis
After several days of correction, gold will form around the $ 1200 mark floor. The uncertainties on the market should give gold a boost in the next few days. The potential economic wars are not yet clear and there is still political uncertainty in many countries.
Technical Analysis
RSI is getting upward momentum and the ichimoku clouds are still very bullish because the baselines (fat red and blue line) havent crossed until now.
I expect further price increases until 1220 $ which is 0,5 Fibonacci retracement area.
After several days of correction, gold will form around the $ 1200 mark floor. The uncertainties on the market should give gold a boost in the next few days. The potential economic wars are not yet clear and there is still political uncertainty in many countries.
Technical Analysis
RSI is getting upward momentum and the ichimoku clouds are still very bullish because the baselines (fat red and blue line) havent crossed until now.
I expect further price increases until 1220 $ which is 0,5 Fibonacci retracement area.
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
