Technical Overview: - COMEX GOLD $2000 LONG-TERM TARGET๐ ORIGINAL LONG POSITION: Use our analysis as a sentiment Analysis is only 1 piece of the puzzle ๐งฉ
Our analysis is a sentiment for the upcoming week, month. Use this as a weather forecast, you are the person that has to put on a jacket when itโs raining. Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil ๐ Trade with the manipulation๐พ STAY UPDATED BELOW!
The RSI and stochastics indicate that gold is very oversold. The few times this happened the price spiked up. So if you short, you are going to get wrecked. Look also at the 5 year pattern. Gold is clearly making higher lows. Look also at the 10 year pattern and you will see this is a cup-and-handle formation. Gold did this same pattern in the 1980s. The SLR requirements and Reverse Repo rates are causing a shortage of collateral. Basel III NSFR going into effect for European banks at the end of the week and UK banks Jan 1, 2022, make gold a risk-free asset for collateral.