The wider 1W Channel Up on Gold remains intact (RSI = 58.687, MACD = 17.040, Highs/Lows = 4.0208). This indicates that on the long run there is still no trend reversal. Within the Channel there are some recurring patterns that suggest the price is close to a Higher Low. Add to that the vastly oversold 4H (RSI = 23.783, STOCHRSI = 0.000, Williams = -99.309) and to a lesser extent 1D (RSI = 38.102, STOCHRSI = 0.000, Williams = -99.569), we are a expecting a strong rebound next week. TP = 1,330, extension = 1,350.
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Telegram: t.me/investingscope
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investingscope.com
Over 65% accuracy on Private Signals Channel.
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Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.