Today, we will show a short term analysis we have on Gold Futures:
-It's important to say that in the long term, we have a bullish perspective on GOLD; check the Weekly chart, we think we are on a Cup and Handle pattern, and this type of assets tend to be bullish on uncertainty times (safe heaven assets) with its aligned with the current situation.
-Now, we will focus on the 4HS chart and a possible short setup. The main structure is a descending channel. Currently, we observe a corrective pattern (ABC) supported on the descending channel. If the price breaks below "B," we expect a continuation of the bearish movement towards the 1700 zone. There we expect to find the bottom of the bearish movement.
Thanks for reading!
-It's important to say that in the long term, we have a bullish perspective on GOLD; check the Weekly chart, we think we are on a Cup and Handle pattern, and this type of assets tend to be bullish on uncertainty times (safe heaven assets) with its aligned with the current situation.
-Now, we will focus on the 4HS chart and a possible short setup. The main structure is a descending channel. Currently, we observe a corrective pattern (ABC) supported on the descending channel. If the price breaks below "B," we expect a continuation of the bearish movement towards the 1700 zone. There we expect to find the bottom of the bearish movement.
Thanks for reading!
