A breakdown on $XAUUSD potential future movement
GOLD PRICE to challenge $2000 territory in matter of months time ?!!
Long term bullish on the price of GOLD in the following months, as in FY2022. Inflation would shake the equity markets and give a good run to the commodity prices, left alone GOLD price itself...
As XAUUSD was consolidating in the symmetric triangle, it finally breakout of the short-term weekly downtrend after two prior attempts. It is now trading at higher level...However, we might see a retest on the trend line before any further movement.
I expect the price to move accordingly to the supporting trend line which I drawn in black. Although it may look crazy but TIME will tell whether I am correct.
So, allow me to leave this here first. Thanks.
-Quack
Long term bullish on the price of GOLD in the following months, as in FY2022. Inflation would shake the equity markets and give a good run to the commodity prices, left alone GOLD price itself...
As XAUUSD was consolidating in the symmetric triangle, it finally breakout of the short-term weekly downtrend after two prior attempts. It is now trading at higher level...However, we might see a retest on the trend line before any further movement.
I expect the price to move accordingly to the supporting trend line which I drawn in black. Although it may look crazy but TIME will tell whether I am correct.
So, allow me to leave this here first. Thanks.
-Quack
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