The weekly GOLD chart is really interesting as we have now this last week reached the neckline for the massive inverse H&S.
The chart should mean that this week we have possibly reach the area where price stops for this run.
BUT it is still possible that we reach 1370 next week or even break the neckline.
Logically, i think we are du for a pullback and maybe a backtest of the trendline from 2011.
It looks that 2018 will be a very interesting year for Gold and Silver. Actually Silver is lagging but it can surprise at any time.
Fundamentally, gold is now acting like a Monetary asset .
The USD may have a bounce here but i think it will be short-lived. More and more country are getting away from the USD and it looks that
China is ready to launch a Gold-backed oil benchmark ... This is probably why the USA are against Russia, China, Iran and possibly Venezuela very soon ...
Stand and watch !
www.youtube.com/watch?v=geWnRz1X...
The chart should mean that this week we have possibly reach the area where price stops for this run.
BUT it is still possible that we reach 1370 next week or even break the neckline.
Logically, i think we are du for a pullback and maybe a backtest of the trendline from 2011.
It looks that 2018 will be a very interesting year for Gold and Silver. Actually Silver is lagging but it can surprise at any time.
Fundamentally, gold is now acting like a Monetary asset .
The USD may have a bounce here but i think it will be short-lived. More and more country are getting away from the USD and it looks that
China is ready to launch a Gold-backed oil benchmark ... This is probably why the USA are against Russia, China, Iran and possibly Venezuela very soon ...
Stand and watch !
www.youtube.com/watch?v=geWnRz1X...