So yeah, #gold is close to taking off...
Are you worried?
I'm not.
notes:
bullish consolidation above early breakout line
non reporting small speculator longs breaking out
net about to over take total shorts
Gold is undergoing Elliot wave's 4 th wave consolidation
This will take equal time of 13 years of Mega 3rd wave rally.
GOLD may not shine during Stagflation Economy Cycle.
Smart investment in gold may be after it reaches $1045 again
COMEX:GC1!
Possible Scenario: Long
Evidence: Macro Economy variables, including $DXY bearish price action, inflation, and recession outlook for following years, I expect at least a 50% price jump.
4.18.23 Gold: In this video I was trying to review the price action of gold and how you can have a fairly predictive way of knowing where the market might go and what that means to buyers and sellers. this is not necessarily Your signal that you must trade your strategy or be a stop and reverse trader....It's a way of knowing when the market is likely to change...
Investing physically in most commodities is almost impossible due to operational constraints: they tend to be voluminous, expensive to store, move and insure, and can be very perishable. Most commodities investments are, therefore, made through futures contracts and therefore suffer, most of the time, from negative roll yield. However, this is not true for...
4.17.23 Follow up on gold and coffee using our indicators and spending some time on gap relationships So that we can find Reversal patterns And calculate Probabilities with more accuracy. As long as you have decent volatility you can make money as a buyer and a seller.
Economists make forecasts to make weathermen look good. Trying to forecast trends in complex systems is never easy. As with weather, financial markets are influenced by a myriad of factors which can make prediction akin to gambling. Time in the market beats timing the market so a far safer bet is building a diversified and informed portfolio.
As mentioned in our ...
i believe gold should be start correction range and then continue up trend and break supply
at the short time---------- have down trend
at the long time----------- have up trend
Gold extends further towards the upside but fall towards to the ascending trend line later on the week.
Upside bias remains unless price breaks below the 2000 region which can potentially drag price towards the neckline support at 1940 region.
Gold has broken to the pattern on lower side and closed bearish on daily timeframe.
More downside in coming days.
Target 58500.
Stay safe and trade safe.
Note: The above is not a trade recommendation. Consult your financial advisor before taking any.
DXY weakness translates into strong gold and now with fears of dollar losing reserve status and Russia buying record amount of Gold, there is a confluence of indicators suggesting now is a good time to be long gold over the next year or two
