GOLD ANALYSIS FORECAST
After achieving higher price targets
last days too much news and bla bla that $2,000 Gold Price is in the corner – is it so?
( if 1560 price will break up then the next targets is in 1720+_ for my opinion but it far so let’s keep that in our mind and meanwhile focus on the present )
gold price traded higher in response to continued concerns that the trade war between the United States and China will get worse before it gets better
most central banks around the world have been moving towards a much more accommodation monetary policy as they lower interest rates and make cheap money more available.
It is also believed that there is a high probability that the Federal Reserve will initiate additional rate cuts beginning in September and possibly another rate cut in December.
those measures supportive of bullish market sentiment for gold as safe-haven assets
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| GOLD FORECAST |
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| GOLD ANALYSIS |
Gold price Technical analysis
As long as gold XAU/USD stay and trade above 1406 the trend is bullish, short term remain in 1474/1453 /1438
Next resistance levels stay in 1530 1560
From a closer look, I think that we are facing in correction in the gold to test the 1430-1460 price area
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| XAU USD ANALYSIS |
the last thing is COT position, Gold position map :
Cot position show the same pattern as happen in 2010
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| GOLD POSITION |
This review does not include any document and/or file attached to it as advice or recommendation to buy/sell securities and/or other advice
