Sooner or later, Gold will try to challenge the All Time High.
Gold which, the safe haven asset is however become the most interesting asset for all of the stakeholders during recession on the market. That's one of the attractiveness of gold itself. But, I need to say it again 1 more time that I don't give any fuck about any fundamental analysis of the market. I just believe in levels and the price action on technical analysis.
Based on the chart applied, we can see that in the last 2 months it looks like a very hard time for the price with a huge rejection toward the resistance now. But, I still see this as an ideal price behavior because the price is testing the golden pocket region. If the price can't breaks this region as a resistance, we could see the correction toward the $1300 region as the region which has confluence with the yellow support trend line and the previous broken resistance that is becoming support for now. If this level can hold, it will confirm a series of higher high and higher low.
Aligning with my above statement, I see a perfect example of the breaks out strategy of the price which has broken out of its bullish falling wedges with a retest action back at September 2018. We could see an extra bullish movement from the gold in the next 5 years to challenge the ATH or even make a new ATH of it. For now, just do the Dollar Cost Averaging and this could be a good investment.
Based on the chart applied, we can see that in the last 2 months it looks like a very hard time for the price with a huge rejection toward the resistance now. But, I still see this as an ideal price behavior because the price is testing the golden pocket region. If the price can't breaks this region as a resistance, we could see the correction toward the $1300 region as the region which has confluence with the yellow support trend line and the previous broken resistance that is becoming support for now. If this level can hold, it will confirm a series of higher high and higher low.
Aligning with my above statement, I see a perfect example of the breaks out strategy of the price which has broken out of its bullish falling wedges with a retest action back at September 2018. We could see an extra bullish movement from the gold in the next 5 years to challenge the ATH or even make a new ATH of it. For now, just do the Dollar Cost Averaging and this could be a good investment.
