This is a classic setup for the retest of the opening range on gold.
Price pulls back to the 15 min supply zone which is also inside of the opening range.
Target hits 2:1 and still going!
Gold prices in 2023 defied expectations. In 2023, economic uncertainty was in plenty with rapidly rising inflation. There was market consensus that recession would benefit gold.
Gold indeed delivered stellar performance rising 12% through 2023. It was not because of a recession though. Most major economies successfully dodged a recession. Inflation trended...
Gold glows as risk blows. Multiple bank failures and shotgun bank marriages are bringing back scary memories of 2008.
Amid gloom, demand for gold blooms. Gold is a resilient store of wealth, offers durable portfolio diversification, exhibits lower volatility relative to equities, and serves as an inflation hedge.
As described in our last paper , among the six...
Content:
• Why CPI could be at the beginning of a rally?
• On 14 Dec 21, Fed: “Inflation is not transitory” changes everything
• Strategy to counter inflation
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader,...
Type : Bearish Momentum
Resistance : 1738.4
Pivot: 1721.8
Support : 1678.5
Preferred Case: On the H4, with price moving within a descending channel and RSI moving along a descending trendline, we have a bearish bias that price will drop from the pivot at 1721.8 where the pullback resistance is to 1st support at 1678.5 in line with swing low support and 78.6%...
