bhtradingllc

A long but profitable journey in XAUUSD

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold may be worth upwards of $10,000++ per ounce. Using fundamentals & technicals we can see how the price of gold has been behaving. We have a major all time resistance which is being reached little by little every day. We have two major support lines in the trend, the first would be the 200 EMA, this one is important as it is a dynamic ic support, it will always be adapting to price. The second support will actually tell us that this upwards momentum is nowhere near over, even though it is still just a horizontal level in a trend. We can also see how perfectly the tops & bottoms connect on the curved line. It gives us a good visual representation of how the price action can look in the coming years. If gold eventually tests its major all time high resistance, and breaks through, I think we are going to see gold start flying to the upside, gaining thousands in value every single year. In fact, the price of one ounce per gold can potentially closely resemble the price of bitcoin, although of course they have very little to no correlation to one another. By 2050 gold mining will no longer be sustainable, by this time I'm sure those who have invested in gold right now will be holding onto a small fortune.
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