Did gold just to choose to shoot up to $2.169?
Gold like many other markets have been in difficult territory to trade well this year.
We cannot predict but only probability predict. And with probabilities, things can change so quickly.
I am currently long a couple of gold stocks as of last week, and it looks like the direction is right for now.
And finally, the gold price is matching the drapes.
We are seeing gold stocks head on up along with the precious metal which is bringing somewhat a positive correlation.
If we look at the overall pattern, since March it's formed an unattractive Symmetrical Triangle.
And now the price has broken above the triangle, choosing a direction - UP
This is also coincidental as the world markets have broken down in their Sideways 1 year range. We can expect world markets to continue down, while gold is more likely to rally.
Could it be the safe-haven status market we need right now for when things are down?
With cryptomaniacs scared to invest based on what's happened over the last two years and with NFTs losing over 90% of their value.
It could be the best market to invest in at the moment.
Good old trustworthy boomer of an investment.
7>21>200
RSI>50
Target $2,169
We cannot predict but only probability predict. And with probabilities, things can change so quickly.
I am currently long a couple of gold stocks as of last week, and it looks like the direction is right for now.
And finally, the gold price is matching the drapes.
We are seeing gold stocks head on up along with the precious metal which is bringing somewhat a positive correlation.
If we look at the overall pattern, since March it's formed an unattractive Symmetrical Triangle.
And now the price has broken above the triangle, choosing a direction - UP
This is also coincidental as the world markets have broken down in their Sideways 1 year range. We can expect world markets to continue down, while gold is more likely to rally.
Could it be the safe-haven status market we need right now for when things are down?
With cryptomaniacs scared to invest based on what's happened over the last two years and with NFTs losing over 90% of their value.
It could be the best market to invest in at the moment.
Good old trustworthy boomer of an investment.
7>21>200
RSI>50
Target $2,169
✅ Facebook:
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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