Traders and Investors Welcome !
* Please refer to my previous links on XAU/USD, where I cautioned my followers on a bullish trap.
* Please see screen 1 (above) 2 (below)
1. Screen 1 - See bearish candlesticks, and see how prices tried to retest, however they seem to still be strongly rejected. EMAs 10 indicator provides support that prices are struggling at the resistance level. Which can directly project prices to the below support at 1769
2. Screen 2 - IF prices (update will come next week) break the 1769 support zone we will Gold directly see fall to the next level which will be around 1757.
! On both time frames, Gold is overbought !
- From a fundamental point of view: I always say and will say it. I LOVE GOLD, However I always search for his intrinsic value, this is what keeps me in the race with gold, for me actually; Gold should be around 1500 and 1700 per once. This until the economy reopens. How longer the economy keeps closed how less gold value is increasing. I informed all my followers of the probable bullish trap (see links) I hope I can do the same for you.
As Always, Thank you for reading, like, comment and follow for more daily news on my channel !
Regards,
Kevin C. Best
* Please refer to my previous links on XAU/USD, where I cautioned my followers on a bullish trap.
* Please see screen 1 (above) 2 (below)
1. Screen 1 - See bearish candlesticks, and see how prices tried to retest, however they seem to still be strongly rejected. EMAs 10 indicator provides support that prices are struggling at the resistance level. Which can directly project prices to the below support at 1769
2. Screen 2 - IF prices (update will come next week) break the 1769 support zone we will Gold directly see fall to the next level which will be around 1757.
! On both time frames, Gold is overbought !
- From a fundamental point of view: I always say and will say it. I LOVE GOLD, However I always search for his intrinsic value, this is what keeps me in the race with gold, for me actually; Gold should be around 1500 and 1700 per once. This until the economy reopens. How longer the economy keeps closed how less gold value is increasing. I informed all my followers of the probable bullish trap (see links) I hope I can do the same for you.
As Always, Thank you for reading, like, comment and follow for more daily news on my channel !
Regards,
Kevin C. Best
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