This could be XAUUSD 's golden year!
2011 marked a huge accomplishment for Gold peaking at 1920.
This peak was made possible fundamentally due to inflation brought on by the sub-prime 2008 crisis.
After peaking around 1920 back in 2011, Gold resumed to drop for a consistent 2 year period until 2013.
Between 2013-2019 Gold was trading within a triangle consolidation pattern that broke up June 2019.
Between 2019 to today Gold is trading in a technical weekly up-trend with higher lows.
On my previous bigger picture review of Gold when it was trading around 1800 back in 2020 - I've covered how Gold may continue to rally long-term with consistent new highs.
Gold resumed to rally after my idea was published and peaked at around 2080 just a couple month later, August 2020.
After peaking August 2020 - It resumed to trade down until November 2021, when for the first time we had a higher high on a weekly close.
Since November 2021 a consistent up-trend is ongoing, which started from a double bottom forming around the breakout which is also the weekly support stretching since 2018 connecting lows.
Most recently we have a weekly close above the previous high of 2011 (1920) and connecting highs stretching back a year to early 2021 , also at around 1920 - Together making up very bullish indications, which means a new all time high is targeted.
If this week closes above 1945, expect an extremely strong start to the week for Gold , with 1960, 1980 and 2010 as immediate possible targets.
Inflation , uncertainty , pandemic, war - All bullish factors supporting the bullish technicals reviewed on this weekly chart.
Please like and subscribe if you like my point of view , thanks!
This peak was made possible fundamentally due to inflation brought on by the sub-prime 2008 crisis.
After peaking around 1920 back in 2011, Gold resumed to drop for a consistent 2 year period until 2013.
Between 2013-2019 Gold was trading within a triangle consolidation pattern that broke up June 2019.
Between 2019 to today Gold is trading in a technical weekly up-trend with higher lows.
On my previous bigger picture review of Gold when it was trading around 1800 back in 2020 - I've covered how Gold may continue to rally long-term with consistent new highs.
Gold resumed to rally after my idea was published and peaked at around 2080 just a couple month later, August 2020.
After peaking August 2020 - It resumed to trade down until November 2021, when for the first time we had a higher high on a weekly close.
Since November 2021 a consistent up-trend is ongoing, which started from a double bottom forming around the breakout which is also the weekly support stretching since 2018 connecting lows.
Most recently we have a weekly close above the previous high of 2011 (1920) and connecting highs stretching back a year to early 2021 , also at around 1920 - Together making up very bullish indications, which means a new all time high is targeted.
If this week closes above 1945, expect an extremely strong start to the week for Gold , with 1960, 1980 and 2010 as immediate possible targets.
Inflation , uncertainty , pandemic, war - All bullish factors supporting the bullish technicals reviewed on this weekly chart.
Please like and subscribe if you like my point of view , thanks!
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.