Traders, My Feeling is mitigated, both ways can be expected. I would not underestimate the dollar and the comeback from US10Y.
From a fundamental point of view we have seen that gold reacts enormously to it.
from a technical point of view, I would not be surprised to see gold going up until prices are overbought. If prices can continue to climb without any negative retest, we might see gold reaching the 1870 levels. (1815) level seem to be a possible double boom, which might indicate another reversal directly to 1630 levels.
I would recommend to pay attention to the fan line, before entering a trend. From my point of view if prices can't break the fan line, or break but fail the retest, a sell would be considered. However in the other way a buy would be considered.
Personally for me at the moment gold is overvalued. Gold will reach it's value again whenever the economy reopens, due to his materialistic necessity to human, and because of his long monetary history. Import to constantly evaluate the intrinsic value.
Again, be careful, have good trades, learn from your errors, and ask yourself, '''am I really 100 % sure of my traders, would I not consider to review,'' before entering a trade.
Like, comment and follow for further updates.
Kevin C. Best
From a fundamental point of view we have seen that gold reacts enormously to it.
from a technical point of view, I would not be surprised to see gold going up until prices are overbought. If prices can continue to climb without any negative retest, we might see gold reaching the 1870 levels. (1815) level seem to be a possible double boom, which might indicate another reversal directly to 1630 levels.
I would recommend to pay attention to the fan line, before entering a trend. From my point of view if prices can't break the fan line, or break but fail the retest, a sell would be considered. However in the other way a buy would be considered.
Personally for me at the moment gold is overvalued. Gold will reach it's value again whenever the economy reopens, due to his materialistic necessity to human, and because of his long monetary history. Import to constantly evaluate the intrinsic value.
Again, be careful, have good trades, learn from your errors, and ask yourself, '''am I really 100 % sure of my traders, would I not consider to review,'' before entering a trade.
Like, comment and follow for further updates.
Kevin C. Best