Wednesday Gold - Before the Interest Rate Cut
Yesterday it reached 4180 again, and in the past two days, it has repeatedly dipped to buy more, which is comfortable.
Currently, from the hourly perspective, the moving averages gradually show a golden cross in a bullish arrangement, and gold still has upward momentum. After stabilizing at the US point of 4190 last night, the Asian session continued to rise, but the RSI indicates some oversold conditions. A slight pullback is expected around noon, which can be used to buy more on the dip.
Gold recommendation is to buy at 4190-4195, with short-term targets of 4230 and an ideal target of 4250.
