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  • Joseph Barreca

XAU/USD Bullish after big sell off?

Earlier this week we saw a 4 billion dollar sell off on Gold causing it to plummet down to the support level at $1679. After seeing a big spike in price pushing up I'm expecting further bullish momentum to come back into this market.


We went long at $1733 with optimistic targets at $1942.


Technicals:

Price is being supported by the overall trend (above 200 ema) while spiking at support $1679. Seasonal prime data suggest that the Long-term prediction is bullish as price remains above the 100 line, Long-term Prediction Candlesticks suggests a rise in price towards $1820 with a Forecast of 25 bullish days and overall increase of 3.89% in price before the months end.












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