Hey guys!
Below is an analysis of gold that I've decided to update from my previous posts.
Points that are non-TA:
- Golds looking strong with recession fears going through the roof and Trump having a constant affect on the value of gold causing a 52 week high to be reached in the last 2 days.
- Expecting more trump hits which should send gold prices higher as more people run to gold to invest their money.
TA points:
- Gold has entered a channel for the past 3 months with a strong bullish uptrend
- Gold is now well above 21 day and 50 day EMA, presenting a strong bull market
- broke downwards from a previous bear flag and caused a massive breakthrough due to recession fears.
- could be replicating this with another bear flag forming. If it forms this will see a pull back down to near 1480. Then a bounce off should occur. However, I feel this won't occur due to trade tensions rising more and more recently, causing gold prices to surge.
Overall, very bullish market in the mid term (6-9 months)
Below is an analysis of gold that I've decided to update from my previous posts.
Points that are non-TA:
- Golds looking strong with recession fears going through the roof and Trump having a constant affect on the value of gold causing a 52 week high to be reached in the last 2 days.
- Expecting more trump hits which should send gold prices higher as more people run to gold to invest their money.
TA points:
- Gold has entered a channel for the past 3 months with a strong bullish uptrend
- Gold is now well above 21 day and 50 day EMA, presenting a strong bull market
- broke downwards from a previous bear flag and caused a massive breakthrough due to recession fears.
- could be replicating this with another bear flag forming. If it forms this will see a pull back down to near 1480. Then a bounce off should occur. However, I feel this won't occur due to trade tensions rising more and more recently, causing gold prices to surge.
Overall, very bullish market in the mid term (6-9 months)