GOLD POTENTIAL
I am looking at Gold with both excitement and worry, It has been on the up and up for a while now indicating a growing demand for the shiny commodity. This is likely due to the fact that a lot of influential people are bracing for an economic slowdown and want to protect their assets. More recently Gold has been playing with a reversal, this can be attributed to economic policies from governments to try and hold out against the impending recession, the result of these policies may cause a temporary dip in gold but in the long run it is likely to continue up. This brings me to the current chart if we can see closure below the current support we may see gold fall to the secondary support, however, the last time gold was in this area it shot back up, we should wait for a closure and potentially a retest to either the up or downside before entering a long or short trade. Time will tell. Thank you for reading my analysis.
כתב ויתור
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