Technical - Price has rebounded and closed back inside major trend line after a savage sell off. Also broken out of smaller triangle. Currently floating around the 0.236 fib, we may see a slight retracement to the 1594 area before next jump.
TPs: 1630, 1660, 1682, 1717
Final TP: 1759
Fundamental - Gold has always historically been heavily invested into in times of global crisis, so it should in theory do the same. The big March sell off could be a big push down to take out buyers before a huge leg up. I personally think we will see price hit 2000 in 2020.
TPs: 1630, 1660, 1682, 1717
Final TP: 1759
Fundamental - Gold has always historically been heavily invested into in times of global crisis, so it should in theory do the same. The big March sell off could be a big push down to take out buyers before a huge leg up. I personally think we will see price hit 2000 in 2020.
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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.