Technical levels and research giving approach to the market. RED LINES ARE HARD SUPPORT LEVELS. BLUE LINES ARE RESISTANCE. YELLOW LINES SHOW WEAK SUPPORT WITH POTENTIAL STRENGTH.
CURRENT APPROACH
1709 SUPPORT- 1740 RESISTANCE
if 1709 support is broken we have a clear pattern to complete the BIG M aka(double top) and range between 1660-1650. Let’s break 1700 first though. If not we will push back to 1708. If we can break 1700 we will head for 1680 and then 1660. If 1680 can not be broken we have potential to shoot back for 1700.
If 1740 resistance is broken we are then to break into new highs. My approach would be 1800. A break above that can lead to previous all time highs at 1921. Manage your profitable positions along the way.
Technicals are essential but let’s not blind our eyes to the fundamental play in the markets. USD strength,OIL prices, UNEMPLOYMENT rate, Q.E measures, slow ECONOMY, potential INFLATION/DEFLATIONARY measures which gold hedges from. Unexpected FED Decisions. MARGIN CALLS and PROFIT TAKING from equity index markets, GOLD MINES CLOSED down DEMAND over SUPPLY ETC.
(Trumps tweets lol)
Every level is crucial. Today In this uncertain economy, gold is a hedge against this crisis. Let’s not forget gold is insurance against fiat. In the current market any buy position can be held for slow and steady long term gains. But why not profit from bear and bullish price fluctuations. Good luck 🍀👍
LIKE AND COMMENT!
CURRENT APPROACH
1709 SUPPORT- 1740 RESISTANCE
if 1709 support is broken we have a clear pattern to complete the BIG M aka(double top) and range between 1660-1650. Let’s break 1700 first though. If not we will push back to 1708. If we can break 1700 we will head for 1680 and then 1660. If 1680 can not be broken we have potential to shoot back for 1700.
If 1740 resistance is broken we are then to break into new highs. My approach would be 1800. A break above that can lead to previous all time highs at 1921. Manage your profitable positions along the way.
Technicals are essential but let’s not blind our eyes to the fundamental play in the markets. USD strength,OIL prices, UNEMPLOYMENT rate, Q.E measures, slow ECONOMY, potential INFLATION/DEFLATIONARY measures which gold hedges from. Unexpected FED Decisions. MARGIN CALLS and PROFIT TAKING from equity index markets, GOLD MINES CLOSED down DEMAND over SUPPLY ETC.
(Trumps tweets lol)
Every level is crucial. Today In this uncertain economy, gold is a hedge against this crisis. Let’s not forget gold is insurance against fiat. In the current market any buy position can be held for slow and steady long term gains. But why not profit from bear and bullish price fluctuations. Good luck 🍀👍
LIKE AND COMMENT!
