Before we dive in, review my previous Gold analysis. A THREAD BELOW
Comment
⋅
On the daily, gold has been finding it hard to break above the 1940//1962 region since September 2020. There was still a rejection at that previous LH region earlier this year even after it seemed to had broken out of the downtrend to continue its bull run. There are currently rejections at the 1826//1849 region which I believe price might be heading to test 1940//1962 region again after breaking out of this trend.
Comment
⋅
Zooming out still on the daily timeframe, you can see that Gold was up trending and the channel, now appearing like a flag. However, prepare to short gold after breaking the 1748//1766 region. This is financial advice🤣. Lol🤣🤣.
However, always DYOR (Do Your Own Research) before making any financial decision. Ignore the joke above 😀. Don't forget to leave your thoughts in the comment section below. Safe trading folks.
Thanks for the technical analysis and good sound ideas in this but I think fundamentals might dictate that a rise in Gold from a safe haven point of view, given DXY & BTC uncertainty would mean a rise back to 2000 by the end of January 2021 IMO.
Cavicon
⋅
@bencolethfc2 Thanks for sharing the fundamentals with us. I appreciate.