Gold chart after compensating for DollarDXY shows a bull flag
I divided XAUUSD to DXY to get gold price compensated for actual dollar value.
Resulting chart in this scale reveals :
-Current price still lower than 2011 high in this scale I can conclude it is kept suppressed for long time, comparing to price of every other asset in this period , and considering USD reserve currency status challenge and inflation ahead it seems cheap.
-Current structure in this scale shows a big bull flag in progress that can be expected to breaks upward.
Therefore outlook is very bullish but note that the time frame is weekly and there may be turbulence in short run.
Resulting chart in this scale reveals :
-Current price still lower than 2011 high in this scale I can conclude it is kept suppressed for long time, comparing to price of every other asset in this period , and considering USD reserve currency status challenge and inflation ahead it seems cheap.
-Current structure in this scale shows a big bull flag in progress that can be expected to breaks upward.
Therefore outlook is very bullish but note that the time frame is weekly and there may be turbulence in short run.
כתב ויתור
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