🥇 GOLD → Capital inflows will strengthen the price
Gold consolidates buyers due to global crisis linked to another armed conflict. The metal is increasingly attracting capital as a hedging asset in times of crisis.
I think the outlook for a few weeks is predetermined. We should expect a retest of 2150 in the near future.
Reasons for further increases:
1) Armed conflict on the world's main trade artery near Yemen will only drive gold prices higher
2) Upward trend of XAU
3) Consolidation is forming near resistance 2058 - this increases the chances of a breakout
4) A change of mood is evident in the market, the bulls are gaining strength
I think the outlook for a few weeks is predetermined. We should expect a retest of 2150 in the near future.
Reasons for further increases:
1) Armed conflict on the world's main trade artery near Yemen will only drive gold prices higher
2) Upward trend of XAU
3) Consolidation is forming near resistance 2058 - this increases the chances of a breakout
4) A change of mood is evident in the market, the bulls are gaining strength
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