Possible Gold Pullback
Over next few years with more people and institution using BTC and other Crypto Currencies as Hedges against the all mighty dollar, we may see a big pullback to the $1410-$1425 area where I believe it will range for awhile. Gold is in a very weird spot with crypto emerging. Only time will tell but I think Gold has seem it’s hay day and won’t be seeing highs again for a while.
It has formed a Symmetrical Triangle over the last few months, beginning around May 2020. The breakout target for this is $1412. The 0.618 Fib retracement price is about $1422. Those price points seem too close to be just coincidental to me. Monthly MACD cross down awhile back as well to add.
It has formed a Symmetrical Triangle over the last few months, beginning around May 2020. The breakout target for this is $1412. The 0.618 Fib retracement price is about $1422. Those price points seem too close to be just coincidental to me. Monthly MACD cross down awhile back as well to add.
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