Gold is currently trading around 494.92 RMB per gram in China as of July 25, 2023. Based on the technical analysis on XAUCNY showing we are currently in wave 5, subwave 4 of an upward trend, the prediction is that by January 2025, the price for 1 ounce of gold will reach 16575 RMB. Given that 1 ounce equals 28.3495 grams, a price of 16575 RMB per ounce implies...
FX_IDC:XAUCNY XAUCNY Analysis price action Fibonnaci pivot Support and Resistance Pivot Points Base Pivot goldcny 📉The confirmation of entering a short position is validated after the closing of a 4-hour candle below the 4-hour support levels. 📈The confirmation of entering a long position is validated after the closing of a 4-hour candle above the 4-hour...
📌 ridethepig | Gold for ECB This leg is a demonstration of how and where an advance on the right break should be punished. Buyers reclaiming $1.860 yesterday while the inauguration/coachella took place and now $1,875 for the European open is sending last minute ⚠️ signal of ECB preparations. The technical breach illustrates the lust to expand, the momentum...
📌 The lows in Gold are an elegant threat for another leg higher towards the highs; name wave 5 which is the one that we have been tracking since the previous diagram: I love it when an idea comes together. We arrived at the destination for our retrace and have started to form a base. Sellers are vacating! Moreover, buyers are now keeping their eye on the...
📌 The struggle to claim 14,631 is notable. When studying the waves I came across similar a similar state of affairs in the earlier flows. The impulsive rally derives from its strong nature, not from itself but from much more the strategic concept of portfolio defence. A defensive move which is clearly crowded and starting to become a deer in the headlights could...
Bullish Momentum Overnight to thrust Gold upwards to the downard trend line. Worth noting tgat this downward trend line will only offer a mild resistance and the possibility remains for Gold to see all time highs once again in the near term should the trend be breahed.
📍 The outpost After sellers shamefully abandoned their outpost at 1765 in June, whenever a gust of risk gains some traction, buyers are able to exploit and win the battle. Let us start by looking at the original breakup. The difference between a protection swing and a momentum play can be seen in the following examples: Buyers open fire on the pullback...
Providing update to my previous chart. Gold has now completed an inverse head and shoulders pattern and we're expecting the bullish momentum to continue.
BULLISH PATTERN FORMATION ON XAUUSD PAIR AMEX:JNUG AMEX:GDXJ AMEX:GDX AMEX:NUGT
Updating our previous post but so far it's shaking out just as we predicted. Bullish Leg 1 = completed Bearish Leg 2 = completed Bullish Leg 3 = completed Bearish Leg 4 = completed Big Bullish Move Expected Leg 5
ZOOMING IN ON PREVIOUS JUNIOR GOLD MINING TECHNICAL ANALYSIS
Here we can focus on the realms of reflationary risks that are around the corner, the struggle to shake out bulls is identical to the struggle we saw in 2016 which is reassuring, and for that reason our problem is reduced to a timing issue. For those tracking the previous diagrams in Gold it is obvious in USD terms both on the Weekly and Daily. Weekly: ...
*** THIS IS NOT AN ADVICE, DO YOUR RESEARCH AND TRADE WITH YOUR OWN RESPONSIBILITY*** A perfect complex inverse H&S just broke out and confirmed bullish. Gold continues to act as a safe haven, as 10y cycle alongside with scrutiny between big countries, we are seeing BTC going up followed by XAU breaking out upwards, the fundamentals and technicals are aligned....
The rally is moving at full speed as expected and we are in the impulsive stages. The main targets for this 3rd wave comes into play at 10127.76 with potential for a 5th wave to continue for the jackpot at 10567.33. A very good chart from a technical perspective, we have discussed Gold on the fundamnetals side in many of the attached charts and will not be...
Only valid for Chinese people. If you want to keep your wealth. You need physical gold. I don't understand the macro economy. I think the trade war is long-term and he will exacerbate the devaluation of the renminbi. If you are a Chinese compatriot. I hope you are lucky.