Hi Folks:
When everything was looking ready for dumping gold, the OMICRON covid variant came in and it could send GOLD prices to fly again due to the uncertainty of the virus yet and the flash crash of the markets in the latest session.
Some Middle East markets crashed today nearly -5%, so we could see a severe continuation or panic selling.
I opened long positions based on the chart as we are currently trading inside an ascending channel and due to strong fundamentals on panic safe haven buying. (Yen, Gold, CHF...)
Based on the previous rallies when the covid was first announced as pandemics we could have a very strong opening with a GAP UP and run 100 bucks rally during this week.
Europe is undergoing new restrictions and lock downs since they already found few omicron cases in Europe. Even though the mutations are quite important some scientists from South Africa are considering it a mild variant, but the facts are that many countries in Europe are having a very strong increase in covid cases.
STAY SAFE folks! Cheers
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When everything was looking ready for dumping gold, the OMICRON covid variant came in and it could send GOLD prices to fly again due to the uncertainty of the virus yet and the flash crash of the markets in the latest session.
Some Middle East markets crashed today nearly -5%, so we could see a severe continuation or panic selling.
I opened long positions based on the chart as we are currently trading inside an ascending channel and due to strong fundamentals on panic safe haven buying. (Yen, Gold, CHF...)
Based on the previous rallies when the covid was first announced as pandemics we could have a very strong opening with a GAP UP and run 100 bucks rally during this week.
Europe is undergoing new restrictions and lock downs since they already found few omicron cases in Europe. Even though the mutations are quite important some scientists from South Africa are considering it a mild variant, but the facts are that many countries in Europe are having a very strong increase in covid cases.
STAY SAFE folks! Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
Note
NO GAP nor UPTREND MOVE so far. I am quite surprised taking into account the previous last minute rally at closing on Black Friday session. Let's keep an eye on the GOLD. Today's gonna be pretty interesting.Note
Omicron is being studied and symptoms are mild. With such good news for mankind it seems that gold will not skyrocket based on this news but it will continue in the same range till they know more about this covid mutation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.