hamedns65

hamedns65

As previously said, Gold reach to long-term trading range. As Fed action is stable and other politic and financial issues are not change big in long term we except this range for gold

hamedns65

as we know about circle of (spike, channel, trading range) we see one completed circle between 2020-2021. and now after spike to 2070 we see a very high slope descending channel and if circle must be completed gold must play in trading range that its length is about its previous trading range.

hamedns65

As see in chart the gold inflation adjusted price is reached to a very good supporting zone. buy it for long term

hamedns65

As mentioned previously, XAU is in descending flag pattern and it will be ended in about 1700. behind, in 1700 we will reach to end of descending channel too. on the other hand, DXY is reached to resistance surface and will be descended and it causes to rising XAU atleast to 0.718 line (about 1780).

hamedns65

as mentioned in chart I think it must test 1810-1800 area again. How I said before in long term it should reach to 1700.

hamedns65

As mentioned in chart Gold is in Long-term descending flag. I think it will be increase in ascending channel to about 1890-1900 and then desend to 1700. As FED insist in control inflation and increase funding rate, DXY is increases and Gold as a nonprofit asset will increase.

hamedns65

As FED continue increasing Fund rate and guess it will be increase more that 0.5%, GOLD as a risky asset will be decrease. I think It will be decrease to 1780 and lower in next week.