Will GOLD behave differently this time?

Anyone, even those who have never invested, will tell you that gold is a safe haven. Especially when the market is pouring blood.

Unfortunately, for more than two months now, gold has been falling, despite the fact that the stock market and global indices are showing bearish sentiment. This is mainly due to the change in monetary policy in the U.S. – the Fed has started raising interest rates.

How long can this last?
Personally, I think gold is slowly approaching the end of its declines, because the data are not so favorable to the dollar after the first rate hikes.
Inflation is advancing; indices and large companies are trading lower and lower; more and more talk of recession; less and less confidence in what Fed members are saying.

And even if interest rates continue to rise, gold, in my opinion, will at worst be in a long-term consolidation, and at best the price will aim towards $3,000/oz.

Technically, the price stopped at the quarterly tenkan, monthly kijun and additionally the weekly cloud.

The first resistence are the D1 kijun – price: 1895 – followed by the W1 kijun – price: 1915.
If the price starts to seriously bounce from the above levels, the long-term consolidation scenario may start to materialize. Definite breakthrough of these resistances, is a clear signal for growths.

In case of long-term increases, the stopping levels are determined by the N waves seen above.

Trade active:

I have had the position since yesterday. Already on BREAK EVEN. I am waiting for an opportunity to add to it. The minimum target is KIJUN D1.