Trade Alert - Buy Gold - 15 August 2022

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TRADE ALERT: GOLD!

Date: 15 August 2022

Idea: Buy

Target: from $1,790 to $1,920

Reason:

Technicals:
Broken above 5 Month Downtrend
Rounding Bottom breakout
Price above the 50day MA

Fundamentals:
New safe haven against high US inflation rate and interest rate hikes.
US economy is shrinking Q1 - 1.6% and Q2 0.9%.
Exiting dollar as the EUR=USD

Since the Crypto winter, investors are moving back into what they know will move up no matter what.

I'm buying medium term.

Are you buying or selling and why?

Trade well, live free.

Timon Rossolimos
Owner, MATI Trader