XAUUSD OVERBOUGHT. 1700 Price worst 1680.
I have not made any posting regarding gold since for a while. Many people kept asking me what is the reason.
The reason is i am in waiting mode. Watching mode.
As you can see the bigger picture, XAUUSD has been oversold on the first attempt territories in the history.
If you check back the past history of gold back into the late '80 and 90', you will find the pattern.
On the pandemic happen, lots of job paused.
This is including the job for gold mining.
After the US has resume their economy back, it start to gain slowly in income, GDP and mining sector.
Right now, mining for all other major corporate got the gold and has been release the supply to public consumer.
While this view has been slightly increase for the past 2 months (September 2020 and October 2020), the gold price become consolidation.
While we waiting for for the Trump and Biden final agreement, we need to see their budget flow of financial move.
Only after that we know the direction of the trend.
Expecting the price to go 1700 or worst 1680.
Regards,
Zezu Zaza
2048
The reason is i am in waiting mode. Watching mode.
As you can see the bigger picture, XAUUSD has been oversold on the first attempt territories in the history.
If you check back the past history of gold back into the late '80 and 90', you will find the pattern.
On the pandemic happen, lots of job paused.
This is including the job for gold mining.
After the US has resume their economy back, it start to gain slowly in income, GDP and mining sector.
Right now, mining for all other major corporate got the gold and has been release the supply to public consumer.
While this view has been slightly increase for the past 2 months (September 2020 and October 2020), the gold price become consolidation.
While we waiting for for the Trump and Biden final agreement, we need to see their budget flow of financial move.
Only after that we know the direction of the trend.
Expecting the price to go 1700 or worst 1680.
Regards,
Zezu Zaza
2048
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