Gold is oversold, can it be reversed?
Updated
Gold hovered near a three month low on Friday and was set for its biggest weekly drop since February, as the dollar strengthened after U.S. Federal Reserve Chief Jerome Powell hinted about more interest rate hikes.
Spot gold ticked up 0.2% to $1,916.39 per ounce by 0450 GMT but stayed close to a three-month low hit earlier in the session. Prices are down 2% for the week. U.S. gold futures held steady at $1,925.90.
However, looking at the chart, we can see that Gold is oversold, it is unlikely that gold will continue to fall. It is likely that gold will turn to 1920 - 1930 . If it can break through that price zone, it will continue to rise strongly in the following days
GOLD BUY 1913-1915💯💯
✅ TP1: 1920
✅ TP2: 1925
🛑 SL: 1909
Spot gold ticked up 0.2% to $1,916.39 per ounce by 0450 GMT but stayed close to a three-month low hit earlier in the session. Prices are down 2% for the week. U.S. gold futures held steady at $1,925.90.
However, looking at the chart, we can see that Gold is oversold, it is unlikely that gold will continue to fall. It is likely that gold will turn to 1920 - 1930 . If it can break through that price zone, it will continue to rise strongly in the following days
GOLD BUY 1913-1915💯💯✅ TP1: 1920
✅ TP2: 1925
🛑 SL: 1909
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Please wait patiently for the brothers
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