In the middle of Fed, let's update the Gold chart! Buyers are in the habit of unpinning, by choosing the quiet break of $1,860 and then allowing a quiet congestion to justify this collection of energy based on two premises:
1️⃣ The bottom formation has taken place ahead of the event.
2️⃣ The troops (buyers) which have been brought into play since $1,803 are now going to be rewarded for their bravery, position favours the topside as sellers lose their grip.
I would like to add that the same flows are also in play for Silver , from time to time I am inclined to update the entire charts to keep up with some of the unpleasantness of chop and congestion. This point of view can be seen in:
The above is of course extremely obvious, and by now my dear readers you all know what is in play on the fundamental side. The pandemic worsening is stalling the economic recovery, employment is still way below comfortable levels. Softening demand, and lower CL prices have been keeping down, but for how much longer...?
Thanks as usual for keeping the feedback coming 👍 or 👎