Gold recovery Gold might rise and here is why
Weeks ago I gave an idea on Gold that it is possible for it to fall into this area and yes it did. Go check it out. Follow the link below to see previous analysis.
Now Gold is currently at 1764. In this area Gold bounced up in June 2021, and now it looks like it is printing a head and shoulders pattern. There is a possibility that the right shoulder will be formed, where Gold can push to the neckline at 1833. A complete violation of the neckline will send Gold higher to 1900, the May 2021 high. If Gold falls below 1740 then 1680 low will be in focus.
Technically, I anticipate US dollar Index to loose strength and this might fueled Gold to rise up.
What are your thoughts on Gold? Please let me know in the comment section below.
If you like my idea, please hit that like button, it's a way of you shaking my hand. Hahaha😁
Enjoy.
Now Gold is currently at 1764. In this area Gold bounced up in June 2021, and now it looks like it is printing a head and shoulders pattern. There is a possibility that the right shoulder will be formed, where Gold can push to the neckline at 1833. A complete violation of the neckline will send Gold higher to 1900, the May 2021 high. If Gold falls below 1740 then 1680 low will be in focus.
Technically, I anticipate US dollar Index to loose strength and this might fueled Gold to rise up.
What are your thoughts on Gold? Please let me know in the comment section below.
If you like my idea, please hit that like button, it's a way of you shaking my hand. Hahaha😁
Enjoy.
