This might be the ugliest and least readable weekly chart for gold.
This week’s candle is closing with no clear direction — a small candle with both upper and lower wicks.
If you’ve seen the Dollar Index analysis:
– If the dollar strengthens, gold should print a red candle (not a rule, just based on past behavior).
– And if the dollar weakens, we expect gold to move higher.
We have to see whether gold makes a decision in the coming weeks or if we’re going to watch more indecision on the chart.
This week’s candle is closing with no clear direction — a small candle with both upper and lower wicks.
If you’ve seen the Dollar Index analysis:
– If the dollar strengthens, gold should print a red candle (not a rule, just based on past behavior).
– And if the dollar weakens, we expect gold to move higher.
We have to see whether gold makes a decision in the coming weeks or if we’re going to watch more indecision on the chart.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.