Gold: Weekly Forecast 17th October 2021 Long

GOLD / U.S. DOLLARICE

Description

⋅ Oct 17, 2021 12:58 PM

Gold climbed further just as forecast last week, except that it plunged on the last day and wiped out most gains.

Despite so, both the high and closing prices are higher than the previous week and there's no change in the entire market structure.

In fact, the price fell just enough to stay supported at a newly formed rising channel.

This week, we may attempt to buy at the beginning of the week at the current price, or perhaps a further drawback towards the 1754 demand level.

The target will be 1830 supply level and the top of the current symmetrical triangle.

Comments

SoundIntegrity

⋅ Oct 17, 2021 2:33 PM

(I am new to this BTW) Given the news (debt ceilings inflation) and a recent large solar flare threatening to smash satellites and disrupt power networks (removing my confidence in the long term viability of crypto) Anyone with a brain would poor their money into physical assets. I Got in for an ounce at 1800 (too early) and then again at 1790. I am hoping for that correction towards 1830 as I am using x30 leverage on a small account. Wondering if you think I should go in a gain at the current price or if its to just wait.