GOLD DROP ON GEORGIA RUNOFF IS JUST A TECHNICAL REASON
What is going on with gold yesterday after the FED announcement that has been mixed?
A democrat lead in Georgia Runoff election should be positive for gold as stimulus expected.
But on the other hand FED annoucement has been mixed. When FED announcement meeting came,
it always on the other side will side the indices and gold will going to be abandon for a while.
The answer: It is just a technical issue. Gold dropped because the RSI level has touched the 70.
Despite the rumors and news, trader follow the FED and buy the indices thus on the other hand
they sold the gold at the same time.
If you see the chart on the gold, the pattern of H&S-1 has been developed an this indicate us that
gold wants to find a momentum.
Gold will push the course bullish once again and it waiting for the support to make its way to $2000
The aim for the goal of 2000 is a must and people now has deposit the money to buy gold before it go
above 2000.
Trader deposit their money. Still cheap if the gold going above the path of 2000.
The fundamental is not so strong because trader ignore the FED since the FED is likely not to do
anything to the interest rate until 2023. Trader is looking for the stimulus. Once the stimulus unleashed,
the gold and indices will makes it want to the 2000 and 31000.
Regards,
Zezu Zaza
2048
A democrat lead in Georgia Runoff election should be positive for gold as stimulus expected.
But on the other hand FED annoucement has been mixed. When FED announcement meeting came,
it always on the other side will side the indices and gold will going to be abandon for a while.
The answer: It is just a technical issue. Gold dropped because the RSI level has touched the 70.
Despite the rumors and news, trader follow the FED and buy the indices thus on the other hand
they sold the gold at the same time.
If you see the chart on the gold, the pattern of H&S-1 has been developed an this indicate us that
gold wants to find a momentum.
Gold will push the course bullish once again and it waiting for the support to make its way to $2000
The aim for the goal of 2000 is a must and people now has deposit the money to buy gold before it go
above 2000.
Trader deposit their money. Still cheap if the gold going above the path of 2000.
The fundamental is not so strong because trader ignore the FED since the FED is likely not to do
anything to the interest rate until 2023. Trader is looking for the stimulus. Once the stimulus unleashed,
the gold and indices will makes it want to the 2000 and 31000.
Regards,
Zezu Zaza
2048
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