dynamiquebd

BULLISH LONG TERM VIEW ON GOLD

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
We expect that a bullish outlook for gold before the end of the first quarter. Bullish potential seems to have been tempered by macro economic factors and capital shifts to alternative assets like the cryptocurrency.
The long term northward trend line since June 2019 is yet to be violated. There's adequate net long position to support the continuous up trend. based on seasonal patterns, there's still a 60% probability of prices finishing higher before the end of the first quarter.
Data from CME group suggests 1800 and 1750 strike prices have high Options activity.

In summary we may see price of gold retest 1750 levels before resuming the bullish pressure to the upside.
Comment: We have observed significant bids in the options market for 2700 strike prices. This may play out before the end of first quarter.

Comments

Gold is now at the bottom of the uptrend channel and the next target is 66, forming a inverted hammer pattern. best point entry 1848 until 9, 1H hour time frame
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out