XAUUSD gold.
We are bullish on gold from a fundamental perspective with US about to pump another 1.9 trillion stimulus into the economy we have a very bearish outlook on the USDOLLAR this year, GOLD SILVER and BITCOIN should act as safe haven assets for investors. From a technical perspective market recently made a fakeout to the downside inducing sellers and has now closed back above the key support level hunting all the stops and collecting the liquidity. Now we are expecting a break above daily resistance and a break above this downtrend line that has been intact since we hit all time highs last year, IF we see a daily impulse and close above resistance we will then be looking to long after a correction to retest the new support.
We are bullish on gold from a fundamental perspective with US about to pump another 1.9 trillion stimulus into the economy we have a very bearish outlook on the USDOLLAR this year, GOLD SILVER and BITCOIN should act as safe haven assets for investors. From a technical perspective market recently made a fakeout to the downside inducing sellers and has now closed back above the key support level hunting all the stops and collecting the liquidity. Now we are expecting a break above daily resistance and a break above this downtrend line that has been intact since we hit all time highs last year, IF we see a daily impulse and close above resistance we will then be looking to long after a correction to retest the new support.
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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.