simplex1

simplex1

The next macro bull-cycle for gold is starting, fueled by massive amounts of money that are and will be printed by the FED, commanded by the the Biden Administration. -First, the price will bounce off the ascending support line at around 1820-1830 and retest the recent high of 1960, which will ultimately break. -After a correction, the price will move to test the...

simplex1

If gold breaks 1820 and stays above, it will most likely go to 1880 (the next high volume node).

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Gold is in an ascending channel and just touched the bottom of it. Once it crosses the blue horizontal line, marked as "Entry" in the chart, long continuation is confirmed and we can expect the price to move to the upper bound of the ascending channel.

simplex1

Make Sure to check common Resistance Levels (Prev. Highs, Fibonacci) for early exit signals. Before the rally, retest of the Channel low (Dark Blue Line) is possible.