Hi there, Market's been quite brutal since 2022 and I hope you guys didn't loose much.
Let's talk about GOLD.
Fundamental Analysis
Russia-Ukraine war is still going.
Recession is upon us.
DXY is skyrocketing.
Currently US Dollar is safe haven
currency.
All are currently in favor of Dollar
so all remaining might
see some declines for sometime.
Technical Analysis:
Gold is trapped in Ascending Triangle
on M,W & D HTF since 2020. We've also
got strong support zone at 1800.
1800 been strong support zone since
2012.
Short Term possibility for Gold to
retrace from 1800 to 1830-1850.
Else
We might see a decline and
breakout below but for that it needs
to break two years ascending triangle's
TL. We might enter for SHORTS once we
price breaks and retests 1800 zone.
Also don't forget about current
strong fundamentals.
Please do like and comment also :)
Let's talk about GOLD.
Fundamental Analysis
Russia-Ukraine war is still going.
Recession is upon us.
DXY is skyrocketing.
Currently US Dollar is safe haven
currency.
All are currently in favor of Dollar
so all remaining might
see some declines for sometime.
Technical Analysis:
Gold is trapped in Ascending Triangle
on M,W & D HTF since 2020. We've also
got strong support zone at 1800.
1800 been strong support zone since
2012.
Short Term possibility for Gold to
retrace from 1800 to 1830-1850.
Else
We might see a decline and
breakout below but for that it needs
to break two years ascending triangle's
TL. We might enter for SHORTS once we
price breaks and retests 1800 zone.
Also don't forget about current
strong fundamentals.
Please do like and comment also :)
