Gold could easily be firing again in Asia Monday, see charts
Hello from Australia, the XAUUSD chart which is very current, displays the daily & weekly charts of MACD & RSI (period: standard 14).
Both charts are not at big overbought levels just yet, in fact, if you recall Thursday and Friday were more pullback sort of days.
In fact, I would not be surprised to see some big upside moves in Gold this week because the daily RSI momentum is huge, MACD is also strong in momentum but its the weekly chart that is bullishly crossing up & I think there could be volatility because despite the oscillators firing perhaps the market anticipates a correction in Gold.
I don't think Gold's correction is in yet, I imagine Bitcoin will need a continued strong Gold pushup in price, if its to commence a fresh leg up.
Both charts are not at big overbought levels just yet, in fact, if you recall Thursday and Friday were more pullback sort of days.
In fact, I would not be surprised to see some big upside moves in Gold this week because the daily RSI momentum is huge, MACD is also strong in momentum but its the weekly chart that is bullishly crossing up & I think there could be volatility because despite the oscillators firing perhaps the market anticipates a correction in Gold.
I don't think Gold's correction is in yet, I imagine Bitcoin will need a continued strong Gold pushup in price, if its to commence a fresh leg up.
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