XAUUSD micro picture five years of gold Update
GOOD LUCK
GOLD BOTTOMING ... The base of the commodity is not reliable without the change in the gold price that may be happening. The weekly bars in Chart 4 show the price of gold forming a potential bottoming formation that that started in the middle 2013, in the chart shows "neckline" over the last three rally peaks extending back to the start of 2014. The last two failed rally attempts took place in mid-2016. The latest advancement of gold because of weak Dollar can lead to another test of high levels of resistance. A decisive footnote in the line indicates that the gold market has bottomed. This certainly will strengthen the argument of inflation. It may be a sign that investors have started to protect their properties against an overburden stock market. For that reason, they may be buying gold miners.
GOLD BOTTOMING ... The base of the commodity is not reliable without the change in the gold price that may be happening. The weekly bars in Chart 4 show the price of gold forming a potential bottoming formation that that started in the middle 2013, in the chart shows "neckline" over the last three rally peaks extending back to the start of 2014. The last two failed rally attempts took place in mid-2016. The latest advancement of gold because of weak Dollar can lead to another test of high levels of resistance. A decisive footnote in the line indicates that the gold market has bottomed. This certainly will strengthen the argument of inflation. It may be a sign that investors have started to protect their properties against an overburden stock market. For that reason, they may be buying gold miners.
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.