Bullish on gold for multiple reasons:
Bullish confluences on gold:
Inverted yield curve (Possible recession after yield curve flips)
= Short term bonds have a higher yield than long term bonds (Federal reserve pushing up interest rates to fight inflation)
Possible recession incoming...
Increase investments in asset classes with a potential Recession: - BONDS, GOLD, REITS
Powell says Interest rates rising so this might be bad for gold but it's still looking solid.
NOTE: if it breaks the right shoulder low this trade may be invalidated
Bullish confluences on gold:
Inverted yield curve (Possible recession after yield curve flips)
= Short term bonds have a higher yield than long term bonds (Federal reserve pushing up interest rates to fight inflation)
Possible recession incoming...
Increase investments in asset classes with a potential Recession: - BONDS, GOLD, REITS
Powell says Interest rates rising so this might be bad for gold but it's still looking solid.
NOTE: if it breaks the right shoulder low this trade may be invalidated
Note
NFP! Looks like Gold continued the push up!, watch for a bit of a retrace potentially.
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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.
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.