Gold Long Idea - Opinion GC1!
Hi there. This is a recent analysis for the precious yellow metal. As you see from weekly chart Gold tend to reach the median of 20 weeks of the bollinger bands at the price of 1286$. As you might expect there is a high probability to rebounce from those price levels to 1320 - 1340$ . This buy signal is confirmed from RSI which holds the price level of 50 which is above the median and signs for long positions. ADX is trying to find a trend. DXY which is contrarian to Gold might get a correction through the prices 95,5- 96 and move Gold higher . From fundamental scope America's going to reach ( if not reached the peak yet) the peak of economic growth through the business cycle which is going to boost yellow metal higher and 1400$ is a vaild price level for gold as a safe heaven for investors. Given also Europe's economic slowdown and the uncertainity of the conditions which Brexit will be completed might boost Gold higher next week.
**This is not an investment advice, it is only for educational purpose**
Invest with safety.
**This is not an investment advice, it is only for educational purpose**
Invest with safety.
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