XAU / USD ANALYSIS - BEST PICK IN A CRISIS!
In the 4-hour chart we see how the moving average lines have been placed downwards after crossing the 100-SMA line, above the 200-SMA line, indicating an upward trend. Added to this is the stochastic, which points to an upward trend in the medium term given a rise above the overbought level, accompanied by a MACD that remains positive with a crossing of its lines.
If XAU / USD manages to consolidate above $ 1,700 an ounce, we could again see a bullish push, continuing to create new 7-year highs. Still, short-term indicators indicate overbought, which could result in a cyclical correction on the upside. A key novel to monitor will be the psychological barrier of $ 1,700, as a drop below could again attract sellers.
Current price action shows some hesitation on the part of investors, but a push above $ 1,754 will reinforce the presence of buyers. If this creates enough momentum, it could jump to $ 1,800, a level that has not touched since September 2011.
I always recommended that the best commodity to hold in a crisis is gold and we can see really big profits to my followers! (Look the chart of the past)
Many thanks and happy profits!
Regards,
If XAU / USD manages to consolidate above $ 1,700 an ounce, we could again see a bullish push, continuing to create new 7-year highs. Still, short-term indicators indicate overbought, which could result in a cyclical correction on the upside. A key novel to monitor will be the psychological barrier of $ 1,700, as a drop below could again attract sellers.
Current price action shows some hesitation on the part of investors, but a push above $ 1,754 will reinforce the presence of buyers. If this creates enough momentum, it could jump to $ 1,800, a level that has not touched since September 2011.
I always recommended that the best commodity to hold in a crisis is gold and we can see really big profits to my followers! (Look the chart of the past)
Many thanks and happy profits!
Regards,
Comment:
PAST chart of gold!