GOLD Long Term Outlook

2 במאי 2021

From a longer term perspective Gold has been in an uptrend. That was until price hit the highs of $2,070. From here price has pulled back significantly and was under heavy bearish pressure. That was until price pulld back into the Weekly order block ($1,745). From here price bulls came out on top, price consolidated a bit before breaking prior market structure to the upside. This was the first tell tell sign that Gold still has a lot of upside potential. This chart analysis paired with what is happening globally and more specifically in the US fundamentally i do believe Gold could be seeing a return to the price of $2,070 and potentially even push higher. A great entry would be to wait for a break of the bullish wedge, a retest of trendline/order block before higher prices.

We will see what happens. What do you think will happen with Gold?