GOLD: Why You Should Be Careful With Gold!

Why You Should Be Careful With Gold!
Ascending Broadening Wedge Pattern!

Gold reached a critical juncture from a fundamental and technical perspective. The price went up for no good reason considering what the market was facing before but on the other hand, it is not reacting now that a second possible conflict between Iran-Israel is being discussed.

Now that everyone is looking at for GOLD to rise further, it could go down. The same thing happened before when everyone was looking at the gold price do decrease further from the resistance zone near 2080

You may find more details in the video!
Thank you and Good Luck!

Comment:

GOLD is rising the chances for the bearish movement

Comment:

🚨 Gold 2326
More decline is expected after this quick Breakout.
Be careful as it is not a stable instrument to trade.

Comment:

📣#GOLD Update
Yesterday the price tried to break the support level and went down to 2324.
GOLD started as an aggressive sell-off, but the price failed to hold the support area and seems to have lost the bear's interest.

The other problem is that gold confirmed a bullish movement after that but again without success.

We have to be very careful at this point. The trend is too strong and difficult to reverse so easily. The fact that we had a bearish price reaction could make the bears make another attempt to push gold down even further.

Selling at this moment is very risky.
The bullish trend dominates and increases the price very easily.
Just use this information as a time reference.

Comment:

GOLD keeps its bullish dominance.

GOLD is still in the bullish zone but as I explained also yesterday we must be careful of any quick sell-off.

So far the price is still developing above the 2360 - 2370 zone indicating bullish volume. As long as the price develops above this area it should rise further as shown in the chart.

Don't make the mistake to trade without a stop loss as the situation is not that easy.
We can never have a Win-Win game and GOLD is already showing that.

Comment:

📣#GOLD posted on 17-April-2024
🎯Target Reached

#GOLD Update
From our previous analysis, gold reached the first target. As I have discussed previously GOLD is developing something strange in its current position. We all know that GOLD is dominated by a strong bullish volume and it will rise every time it makes deep pullbacks.

Today ABC News confirmed reports that Israeli missiles struck a site in Iran, leading to further escalation in the Middle East geopolitical tensions.
At the moment the news came out GOLD increased up to 2418.
Strangely, it moved down to 2380 easily as this is a zone where it was during all the week.

However, the current situation is still a hot topic and GOLD may rise again.
I would also like from all of you to be careful from any new speculation. It is a moment when everyone is looking for further growth in GOLD and those who manipulated this market before can push it down easily as the liquidity is already positioned on the LONG side and they can conduct these transactions easily...the demand for GOLG may get higher and the sell easier.


PS: GOLD is still bullish and also risky

Trade closed: target reached:

The bearish wave began as explained earlier

Comment:

Gold is breaking down another strong structure zone and looks like it will not stop.
If it continues like this, we could see a big bearish wave and it could go back to the previous old areas where it was in early March 2024, near 2078.

The price is already testing the 2300 area which is also a strong psychological price zone. This move is opening the door for more price decline.

If you have any losses from any bad LONG decisions you have made these days, it is better to consider taking the loss. The trend is still bullish, but if this is the top of the bullish wave, it could burn your account.
This is speculation. It happens when you least expect it.