A quick, fresh think about the Gold price
https://www.tradingview.com/x/1zQlRWhT/
Hello,
I mentioned to someone or some screen just prior to yesterdays session that any selling of the Gold price may be futile at this point as the fundamentals are too strong.
1. Inflationary projections that may have cause and effect from the USA Government.
2. Increasing 'cold wars' between nations, especially locations like Russia and the middle East, where there is already civil unrest and warring countries.
3. The Donnie Trump Crypto & wealth-rocks 'carry trade'. Coming to a broker near you & hear from the 'star' for all things 'blockchain' and 'neck-chain.'
You can see in the chart where the price tested 2900 a few times and closed just under at 2897. It could be read as a new corrective move down as price was not held at 2900, hover this is just a break under support and no big deal imho, plus the price closed right on 50 day moving average on 1hr chart and on a couple of other timeframes it found ema support.
Neither of the above mean a terrible lot, but I reiterate the fundamentals are very supportive of the Gold price and someone has to give cryptocurrency a boost.
Hello,
I mentioned to someone or some screen just prior to yesterdays session that any selling of the Gold price may be futile at this point as the fundamentals are too strong.
1. Inflationary projections that may have cause and effect from the USA Government.
2. Increasing 'cold wars' between nations, especially locations like Russia and the middle East, where there is already civil unrest and warring countries.
3. The Donnie Trump Crypto & wealth-rocks 'carry trade'. Coming to a broker near you & hear from the 'star' for all things 'blockchain' and 'neck-chain.'
You can see in the chart where the price tested 2900 a few times and closed just under at 2897. It could be read as a new corrective move down as price was not held at 2900, hover this is just a break under support and no big deal imho, plus the price closed right on 50 day moving average on 1hr chart and on a couple of other timeframes it found ema support.
Neither of the above mean a terrible lot, but I reiterate the fundamentals are very supportive of the Gold price and someone has to give cryptocurrency a boost.
Trade active
A possible long trade, no shorts of gold, buy on a pullback.
See the very strong weekly chart of XAUUSD.
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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.