Tapering is real. It's no more a news. Price does not made violent bear move this time after announcement. The price has already moved before news. Now market setting to balance gold price compared to last year price. I perspective for the gold has not changed yet. There may be new catalyst occur to Triger another impulse move. Watch the video for clarification
@Taneesha, Thank you very much for the support. I am happy to know that you see the same thing in your analysis as well. This boosts our confidence a lot.
RRD73
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People are worried about Evergrande but here in Asia side we know china has trillion in US cash reserves and is looking to take over Evergrande and Competley start taking back control of many huge companies its regining in their leashes. So for china it can be a slow down but to lose face on a housing buble it wont happen it will be taken over by govt and not a bail out as the govt might just absob it and done. The only thing that can be news is delta variant and if this gets worst. look at crypto and nice ideas by the ways. keep them coming.
VRShaiju
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@RRD73, We need some kind of catalysts to move the market. So far tapering news has driven the price action. Now it has become a reality. At present Evergrande news is in the air. This burst to drive the market. Last year when I was trading gold to bull I faced serious resistance around 1705. According to Elliot wave analysis price has to come back down. But there is no news to support the drop. Suddenly a piece of news came out on Monday saying India found a huge gold mine. Enough for a 100$ drop.