Gold Down Stock Markets Up?
On the basis of pure technical analysis, we can see that another downtrend is comping.
As we know, the price of gold and the stock market often work in the opposite direction, a negative correlation because gold is considered a safe asset compare to the stock and crypto markets that are considered highly volatile and risky.
The chart is a daily chart meaning, every candle represents 1 day, so it looks like the stock market will continue to climb up in the coming days as gold will test its support lines.
As we know, the price of gold and the stock market often work in the opposite direction, a negative correlation because gold is considered a safe asset compare to the stock and crypto markets that are considered highly volatile and risky.
The chart is a daily chart meaning, every candle represents 1 day, so it looks like the stock market will continue to climb up in the coming days as gold will test its support lines.
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