Gold: Weekly Forecast 13th February 2022
Gold rallied last week especially on the last trading day which caused a breakout of the symmetrical triangle.
As inflation continues to rise and strengthening the market sentiment of more and bigger rate hikes, the dollar is strengthening yet the gold is even stronger.
Since the market has broken out of a 14-month symmetrical triangle, bulls are inevitably going to rise in the coming weeks.
This week, we will focus on buying the pullback, expecting a pullback towards 1850.
As inflation continues to rise and strengthening the market sentiment of more and bigger rate hikes, the dollar is strengthening yet the gold is even stronger.
Since the market has broken out of a 14-month symmetrical triangle, bulls are inevitably going to rise in the coming weeks.
This week, we will focus on buying the pullback, expecting a pullback towards 1850.
Related publications
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.