Gold is attempting to complete a symmetrical triangle, which would be a bullish development. However, the current rally is being pushed by the threat of a Russian invasion of Ukraine. So, the market is in the "Buy the rumor" mode at the current moment. Should the actual invasion occur the market could evolve into the "Sell the fact" mode.
Click on this chart - I outlined exactly that in the comment section Basically fake news.
Maximilianned
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Agreed - and its completely divergent, ramming it up today to the 1.27 weekly fib pulling shorts. Looking for a return to the .618 Fib at the HVN.
dawqld
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I think the current gold rally is been pushed by inflation and the fact the FED is in a tricky situation. Do they put the economy into recession or let inflation run wild?