Technicals: 1. Fractals pointing to a downward trend until end of 2023 2. It is now even more clear that the peak was at 2075/OZ
Fundamentals: 1. Hot jobs report and resolution of debt ceiling (goes to Biden now to sign off before 5 June, in 2 days) leading to big dump in safe haven
Analysis: 1. Price wave going as planned. 2. Will monitor and update periodically
Technicals: 1. A clear wedge has formed and potential drop down to 1850/OZ 2. MACD made only 2 days in positive and seems extremely weak now in negative
Fundamentals: 1. Hawkish Fed, even though it halted rate increases in Jun, looking at 2 more
Analysis: 1. Price wave going as planned 2. Will monitor and update periodically
Technicals: 1. We had a pump with the market believing that rate hikes are over 2. I don't think we are going to get to 1700/OZ by the end of 2023 as expected, especially if there are no hikes on 20 Sept 3. 1 week MACD will need to be watched at again for a potential entry next month (Sept)
Analysis: 1. I would like to see a good bottoming of 1wk MACD and decide on an entry in late Sept or early Oct (instead of Dec 2023 as previously predicted)
Just a frivolous bored comment as I restlessly and impatiently wait for the bottom for GOLD. This wait is just frustrating like this. Another 2 months at least.
Technicals: 1. The trajectory is actually not as bearish as 3 August 2020 and 14 March 2022 2. In fact, gold price is trying to stay up, and not making although still making lower lows
Fundamentals: 1. Even if Fed halts, it will take a recession or crash to bring rates down 2. But it will certainly lighten bear pressure on gold
Analysis: 1. I am very keen to trade (buy), but the plan is still Dec 2023 + break of 1 week MACD
Commentary: 1. Sometimes, nothing happens. Sometimes everything happens. 2. We broke the recent low and back on track towards the bottom 3. Its still much higher than the 1800/oz I was expecting at this time
Action: 1. Twiddling fingers, we need to wait a bit, still planning the Dec 2023 entry and waiting a more yummy price. 2. Will be back.