I'm bullish on gold next week. There is a lot that is baked into the cake already. People know what the Fed is going to do. We've heat peak inflation. And those inflation expectations will start to come down, and Fed will be tightening into a slowing economy. You'll see bond yields dip lower, and the dollar index will soften. Gold is a better place to be at the moment.
If gold was going to drop below support it would have already happen. From these levels I expect an increase in price. It will not be huge jump is will follow in reverse order of the Dollar decline. You can not argue with the chart support that has held. So gold will move higher and use these levels as a base.
If gold was going to drop below support it would have already happen. From these levels I expect an increase in price. It will not be huge jump is will follow in reverse order of the Dollar decline. You can not argue with the chart support that has held. So gold will move higher and use these levels as a base.
Comment:
We have complete our consolidation action and have struck 1860 we should expect a choppy market as it tries to go through 1870. Either way the bulls control.
Trade closed: target reached