Gold will test 1790
RSI is oversold
Stock is oversold
If we do analysis of previous events, the same situation was in July 1-2 & July 29.
Right now gold is on monthly trendline which is safe zone ever, if it does not broke which is 1750 it will bounce to 1790 least to make other leg, else it will fall to 1720. NFP is very positive for $ but it's not easy to control the inflation. Based on delta variant daily hundred thousands cases are reported in US which will show their effects in coming weeks and again $ lost his value. Yet is seems to be oversold and best chance to take edge, after Monday news confirmation.
Stock is oversold
If we do analysis of previous events, the same situation was in July 1-2 & July 29.
Right now gold is on monthly trendline which is safe zone ever, if it does not broke which is 1750 it will bounce to 1790 least to make other leg, else it will fall to 1720. NFP is very positive for $ but it's not easy to control the inflation. Based on delta variant daily hundred thousands cases are reported in US which will show their effects in coming weeks and again $ lost his value. Yet is seems to be oversold and best chance to take edge, after Monday news confirmation.
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