Gold is about to break out of its flat zone. A move similar to the one seen on September 2 could happen again. The 55-hour moving average remains the key support level, and upward moves are likely to continue as long as it holds.
Gold is also feeding off stagflation concerns, the type of risk that tends to benefit gold the most.
Gold is also feeding off stagflation concerns, the type of risk that tends to benefit gold the most.
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This is working a lot similar then i actually expected. Now we should have get close to a local top, still i won't bet on it. Instead of selling, using 55-hour MA to buy when the price retreat may be a better strategy until it breaks.
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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.