Price currently been trading at LPSY in phase D potential distribution..
Im going short-term short with very tight SL with target at Near-term support USD 1880.00.
Gold sideways in Asia
Gold has been the quiet achiever during my long absence, and its consistent rally despite typically adverse moves in the currency, stock, bond, and yes, crypto markets, is screaming that bull market nerves are becoming increasingly frazzled. Any escalation in Ukraine tensions will only fan gold’s bullish fires.
Looking at the charts, gold appears to have traced out a long-term base at USD 1750.00 an ounce and a rally through USD 1920.00 signals a further attempt on USD 2000.00 an ounce. Gold has drifted slightly lower on the summit headlines today, easing 0.40% to USD 1890.00 an ounce. Near-term support is at USD 1880.00, with resistance at USD 1810.00 an ounce.
Gold’s haven status looks well and truly back right now, and only a full-scale pullback by Russia’s military from Ukraine’s borders would change gold’s bullish outlook.
Im going short-term short with very tight SL with target at Near-term support USD 1880.00.
Gold sideways in Asia
Gold has been the quiet achiever during my long absence, and its consistent rally despite typically adverse moves in the currency, stock, bond, and yes, crypto markets, is screaming that bull market nerves are becoming increasingly frazzled. Any escalation in Ukraine tensions will only fan gold’s bullish fires.
Looking at the charts, gold appears to have traced out a long-term base at USD 1750.00 an ounce and a rally through USD 1920.00 signals a further attempt on USD 2000.00 an ounce. Gold has drifted slightly lower on the summit headlines today, easing 0.40% to USD 1890.00 an ounce. Near-term support is at USD 1880.00, with resistance at USD 1810.00 an ounce.
Gold’s haven status looks well and truly back right now, and only a full-scale pullback by Russia’s military from Ukraine’s borders would change gold’s bullish outlook.