GOLD, Primary FRACTAL-EXPANSION´s in the ASCENDING-CHANNEL!

Hello There!

Welcome to my analysis about GOLD on the daily timeframe perspective. Today the world is getting more and more multipolar and simultaneously with this movement the financial markets landscape changes as well especially with precious metals and commodities such as GOLD that served as a hedge against volatile price-periods in the markets for several thousands of year´s there is an uptick in demand and emerging markets that did not had any interest in such assets before are all opting into GOLD to hedge against financial markets turbulances and bolster their economy. Now, the increased demand in GOLD is why the price is just not going down and remains above 1.600 levels as more and more volume is moving in above this level.

Together with these developments I have detected primary developments within the underlying GOLD technicals and price-actions. When looking at my chart there are these very significant fractal formation GOLD has formed already several times always consisting of several stages with the initial descending channel to form a wave count and once this wave count reached the lower boundary of the major ascending channel it became the root for a massive breakout above the upper boundary of the descending channel and a expansion wave that followed onto the breakout moving into the upper parts of the ascending channel again. GOLD is now exactly on the brink to complete this same fractal once again setting up the third expansion into the new all-time-high region.

Taking both the fundamentals and technicals into the perspective now GOLD has a great possibility likelihood to emerge with the next third fractal expansion phase as seen in my chart and once the breakout above the upper boundary of the blue descending channel happens to bounce off the 100-MA the GOLD price action will activate the 2160 level as the main target zone. Once this zone has been reached with the GOLD price showing strong momentum and the demand in GOLD as a hedge in the markets goes on further this can even lead to a continued expansion wave above this level. If some economies even consider implementing a gold standard similar to the one before the bretton woods agreement in the U.S. this will give the GOLD price a huge upwind and it will lead to a revival of the established expansion market.

Thank you everybody for watching. It will be great when you support my idea and we move on forward together.
"Liberty is getting what you want. Fortune is wanting what you get."

VP

Comment:

Comment:

Gold is forming the local triangle-formation.

Validating the ongoing fractal formation.

Comment:

GOLD open interest demand by institutionals bounced recently.