What a devastating week for bulls we had, huge dumping, fears, cheeseburgers, greed etc
But cheers folks, on 1D chart, we are seeing a sexy curvy bottom on MACD and a perfect indication on RSI. Every bullish or bearish moves need to have some retrace to be solid, so far, on daily chart, we ends up showing a bit green on Fryday.
So here's my opinion for next week, normally, gold will give us a confirmation on 4H chart, double butt or double top, wait for a double bottom to be formed and buy in and targeting 1290ish. Besides, I always hear that Chinese are gonna buy it up, that may give bulls confidence as well.
Since last week the PA for gold was a trend-changing move, I'm expecting another drop after the retrace, and expecting it hit 1220-1226 area.
Dollar is really strong right now, I guess Grandma is ready for a rate hike.
Cheers~
But cheers folks, on 1D chart, we are seeing a sexy curvy bottom on MACD and a perfect indication on RSI. Every bullish or bearish moves need to have some retrace to be solid, so far, on daily chart, we ends up showing a bit green on Fryday.
So here's my opinion for next week, normally, gold will give us a confirmation on 4H chart, double butt or double top, wait for a double bottom to be formed and buy in and targeting 1290ish. Besides, I always hear that Chinese are gonna buy it up, that may give bulls confidence as well.
Since last week the PA for gold was a trend-changing move, I'm expecting another drop after the retrace, and expecting it hit 1220-1226 area.
Dollar is really strong right now, I guess Grandma is ready for a rate hike.
Cheers~