GOLD, 1D

๐ˆ๐ฌ ๐†๐จ๐ฅ๐ ๐š๐›๐จ๐ฎ๐ญ ๐ญ๐จ ๐ซ๐š๐ฅ๐ฅ๐ฒ ๐จ๐ซ ๐œ๐ซ๐š๐ฌ๐ก&๐›๐ฎ๐ซ๐ง? Gold has had a huge rally from ~ July 2018 through to July 2020; however over the last 6 months it has settled and returned to the previous high water mark (set in 2011). There is a reasonable bullish argument that this is the ‘retest’ prior to a fresh bounce: https://www.tradingview.com/x/yEwbU4LB/ If future US stimulus is not done in a well thought out way there could absolutely be a new wave of panic into precious metals. That being said, the acceleration of the COVID vaccine rollout could result in a return to normal at a faster rate that would reduce (or even negate) the need for continued stimulus. In the short term, it seems more likely that we see a further fall in the price of Gold, and the descending triangle suggests that we may see prices as low as $1500 at some point in the mid term future. A failure of the $1800 support would be the trigger for such a scenario to play out.

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