MATTHEWSJACK

MATTHEWSJACK

Gold has yet again hit record highs due to safe haven demand.the yellow metal has been rising steadily from march as investors are betting on interest rates cut by the Fed's this year. Another rulling factor for this rise is led by the depreciation of other currencies against the dollar which is causing the yellow metal to rise together with a strong dollar. The...

MATTHEWSJACK

Buyers are currently in control of the market as the dollar and the yieds drop.this has pushed the safe haven demand as we've seen that the gold market keeps climbing. This is my perspective on the market I will be looking for buys Strictly unless price could break below my support (marked red) Trust your own analysis.make a plan and trade your plan..this is mine 📌

MATTHEWSJACK

looking at the current situation it makes perfect sense why Gold has been consolidating since yesterday. We are above a trendline and below a resistance. Knowing that gold couldn't hold the breakout from Monday this shows that the market has shifted hands and now the bears are in charge...this is my perspective and approach I am not advising anyone to trade like...

MATTHEWSJACK

Looking at the current structure it makes sense to look for sells in this market as it is at the peak of the mountain 🏆...this is my immediate response to the current market condition however I'm open to anything that could possibly happen..in the meantime I'm bearish unless my resistance can be violated then I'll consider looking for further buys to create a new high💯✈️✈️

MATTHEWSJACK

Due to the conflict in the middle east between the Palestinians and the Israelites we can expect gold to continue it's bullish rally..this conflict has brought uncertainty in the global market and it might even affect the oil supply hence we have the gold rush.

MATTHEWSJACK

The conflict in the middle east between the Hamas and Israel has brought a lot of uncertainty in the market leading for this instrument to be in demand.gold is known for being the best way to store wealth as it has shown to sustain it's value over the years and this means investors will always turn to it on days where there's uncertainty in the global economy. If...

MATTHEWSJACK

As seen on the chart above we can expect Gold to short from this week unless price could break above that resistance.at this moment and time it only makes sense to looks for sells than buys on Gold

MATTHEWSJACK

Based on this market analysis we can expect Gold to continue contracting as it's clearly showing to reject that resistance. It's also important to note that we are also looking bearish on the monthly timeframe which means since we have two timeframes in sync there's more chances of the market actually dropping.

MATTHEWSJACK

Gold is looking bearish on the daily timeframe.we are clearly at a resistance so it only makes sense to look for sells only unless price could break that resistance which would then turn it into a support.

MATTHEWSJACK

We are almost at our last peak on this instrument and I strongly believe that until price can reach that high we should only be looking for buys. This stock is very bullish and to short it would not make sense as the overall trend is bullish too.

MATTHEWSJACK

Based on this market analysis we can expect short term sells to retest the low before shooting up,or price could just break that area of resistance and potentially reach that last high. At this particular area it's a tog of war because both buyers and sellers have an edge however it is important to not the overall trend and trade With it✅

MATTHEWSJACK

When you go on smaller timeframes like the daily you'll notice that price is bullish but it is very important to understand that it is just a retracement.personally I believe that we should expect more sells from now on as price is clearly respecting that area of resistance 💯💯

MATTHEWSJACK

After last week's CPI we saw bullishness on the Gold instrument which then led to a brake above the last lower high indicating a change of structure. I am now waiting for a retest on that zone and I will be looking for buy opportunities as soon as it gets there.✈️✈️✈️💯#xau/usd