XAUUSD: Technical correction upward, general trend BEAR
Gold is not yet facing a change in the trend. The general trend is still on the downside. However, the Commodity was in an oversold situation and ECB has decided to lower its interest rate. Therefore, there was a normal move towards gold, seen as a safe heaven for the investor.
Having said that, although there is a technical move on the upside, this should be limite to 1280 or 1313 and even should I say that I doubt about the 1313 which may technically be possible.
Gold may finish its BEAR pattern at 1180 or even lower, before growing on the upside if FED increases its interest rate for example, but we are not there yet.
Having said that, although there is a technical move on the upside, this should be limite to 1280 or 1313 and even should I say that I doubt about the 1313 which may technically be possible.
Gold may finish its BEAR pattern at 1180 or even lower, before growing on the upside if FED increases its interest rate for example, but we are not there yet.
