Interestingly, the PA is trading well above 55 and 100 SMA and the crossover has just happened, enough bullish sign. The upper hand is a confluence of both 200 SMA and the upper band of Bollinger Band
Gold is Bullish.(Not financial advice)
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XAU/USD (Gold) target almost achieved. After ISM Manufacturing PMI prints 49, a figure below expectation, GOLD surged as high as 1803.6 but has corrected a bit since then, please remember that it might make another attempt to target the 1805 level, and the next attempt would be the 1815 zone.
However please stay away from placing aggressive bets because RSI has entered the oversold territory, i.e. 70.
Note- Not finance advice.
XAU/USD- Gold
Dt- 06th Dec 2022
XAU/USD as analyzed and predicted earlier hit our target of 1805 yesterday, in fact, it went as high as 1810. But then it underwent a healthy correct, in fact, a much-needed one, and went as low as 1768 but did not breach the 200 moving average on the daily chart as shown, which is a healthy sign and the bullish momentum still favors XAU/USD. But for the time being, it might trade sideways.
Disclaimer- Not financial advice.