I decided to take a look at Gold Spot (XAUUSD) in the long-term... This is the yearly (12M) chart.
All the details are on the chart.
We are looking at Gold at a value of $3043 this or next year... Based on TA.
I will leave the rest to your imagination but the Fibonacci numbers are telling that Gold can reach $7800 in a matter of just a few years...
The price has been at the same level for a long time, pending. I still continue to expect it to fall down to the support level.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
Gold price ended July at $1,974/oz which made last month the highest that gold has ever closed on a monthly basis-beating the previous high set back in August of 2011 of $1,823/oz. July also saw price make a new all-time high of $1,984/oz which beat Septemeber 2011's $1,920/oz. So far August 2020 has set a new all-time high of $2,030/oz which was made today with...
In my previous Gold ideas, I mentioned that Gold will break out of the ascending triangle pattern and reach 2025 and I advised you to buy the dips(idea links attached below).
As you can see, price broke out of the ascending triangle and easily reached the...
This is a weekly chart of the S&P 500 priced in ounces of gold rather than in dollars. This is an update of a chart I'd posted previously with a detailed examination (see link in "Related Ideas" below). This is similar to how market data was viewed back in the 1930's as the dollar itself was a measure of gold. Some might say this is a way to remove the "Fed...
I just don't get it, we currently have:
Gold at the all-time high
Buffet indicator is at the all-time high (because of a huge GDP drop in Q2 )
But we're only 3% below the all-time high on S&P and VIX is at the lowest levels since Feb.
Something is wrong here, I think we should definitely see another correction. V-shape recovery is too easy for these...
NZDJPY based on HVN around 70.15
price above SMA 100
MACD shows bullish momentum
RSI in uptrend line above 50
price formed inverted head and shoulders
so its expect bullish momentum to resistance level around 71.60
Most likely GOLD going to relax & decide for another journey !!
As we can see RSI getting Air turbulence in the sky
potential 4 levels :
50 % 1999
78.60 % 1983
So we have classic numbers for logical since of gold movement for this week & short trade
All the best and our SL will be 2035
Right now for the gold spot, it has went to the price of $2010 which is a bullish rise from many previous predictions last quarter. Today at nearly 0.45% down, it is likely a dip because I think the next target should easily be $2050. That being said, please keep in mind everything I say is on an opinion based basis. Please do your own due diligence and invest at...