GOLD Is Bullish! Long!

Take a look at our analysis for GOLD.

Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a significant support area 2018.082.

The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 2047.575 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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Comment:

Great beginning for a trade, let’s hope it goes further!