LONG TERM BULLISH - AB=CD
As illustrated, im visualizing what could be an AB=CD Pattern as a continuation structure.
We saw a strong bullish weekly candle that shows momentum and strength to the upside, and this might be our clue.
Keep in mind inflation data is likely to come in hot during JAN, which might lead the yellow metal to re-test its ATH within the next couple of weeks.
Also, geopolitical conflicts are escalating, which leads to nations to protect their economies by hedging gold.
Lastly, with China continuing its purchasing of Gold since mid NOV, the demand for gold continued growing.
It is likely we see $3.000 within the next couple of months.
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GOOD LUCK!
We saw a strong bullish weekly candle that shows momentum and strength to the upside, and this might be our clue.
Keep in mind inflation data is likely to come in hot during JAN, which might lead the yellow metal to re-test its ATH within the next couple of weeks.
Also, geopolitical conflicts are escalating, which leads to nations to protect their economies by hedging gold.
Lastly, with China continuing its purchasing of Gold since mid NOV, the demand for gold continued growing.
It is likely we see $3.000 within the next couple of months.
--
GOOD LUCK!
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