On a very global picture, we can clearly see the trend of GOLD.
There is yet no reason for a change of trend or a bull.
We can keep in mind many details that are shown in the Chart.
1-2014 to date PP is 1356. But we are very far from this level.
2- 2014 Support level is 1020 which in a sens could mean that the bottom of XAUUSD is 1020.
3-We are currently at S3 of 2013 level and this has even been broken.
4-1180 is a very important level as you would be able to see on the chart. Beetween the bottom trend and the upper trend, 1180 is an ideal entry point. However, S1 is 1020, and no one knows yet what will be the momentum of GOLD when it reaches 1180 and it can even go further.
5- Unless Central Banks decide to increase the interest rate, or there is a very clear proof of structural inflation above or equal to 2%, there is no risk that XAUUSD would change trend
There is yet no reason for a change of trend or a bull.
We can keep in mind many details that are shown in the Chart.
1-2014 to date PP is 1356. But we are very far from this level.
2- 2014 Support level is 1020 which in a sens could mean that the bottom of XAUUSD is 1020.
3-We are currently at S3 of 2013 level and this has even been broken.
4-1180 is a very important level as you would be able to see on the chart. Beetween the bottom trend and the upper trend, 1180 is an ideal entry point. However, S1 is 1020, and no one knows yet what will be the momentum of GOLD when it reaches 1180 and it can even go further.
5- Unless Central Banks decide to increase the interest rate, or there is a very clear proof of structural inflation above or equal to 2%, there is no risk that XAUUSD would change trend
