JohnLiv

Gold looking like it may make new highs,

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
The yellow metal have been very weary of present times, covid-19, news, energy prices, fuel prices, Russia/Ukraine conflict and other relative influential circumstances effecting it's trend, as well as other forex pairs, (USD a major factor), that said 1688 has held it's ground well over the previous months, I see no reason for it to break through now having held 5 times, (1700 may be the new 1400), my chart does show the possible break, but I consider it unlikely. My chart is based in most part on fractal historical behaviour, Gold I see it as not making it's highest high yet, there are more factors I based my idea on, but I also have seen the precious metal make moves that the major information bodies don't see, (or just don't let us know), like Reuters, fxstreet and kitco ect.

Area's to look for bull wise: 1728, 1788, 1802, 1872 and 2K
Area's to look for bear wise: 1688 and 1610

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.