Gold responded pretty well to yesterday's FOMC meeting. It soared from as low as 1753 USD yesterday to as high as 1798 USD today. We continue to maintain a bullish view on gold as we expect the tightening cycle (with presence of high inflation) to be very bullish for gold. Additionally, we expect gold to break above the resistance level at 1835 USD. We expect this...
Gold remains stuck in the neutral zone between 1750 USD and 1835 USD. Its trend continues to be neutral. Several fake breakouts above or below the neutral zone took place, however, a new trend failed to be established. We await the FOMC on 14th and 15th December 2021 as it will provide more insight into FED's next actions. Despite gold's neutral trend we remain...
Today gold broke above important resistance level at 1835 USD and reached temporary high at 1868.626 USD per ounce. Breakout above 1835 USD resistance is particularly bullish development for gold as we noted in our previous ideas. We anticipated this move for a while now; and we stated that once this resistance level was taken out, then resumption of an uptrend in...
Gold continues to rise and we remain bullish. Gold took off to the upside from the upper bound of downward moving channel. Current important area is around 1830 USD. If gold manages to break above this price level it will further bolster a bullish case for gold. We will view this as another confirmation of that gold bottomed out on 9th August. RSI is bullish....
Technical indicators are mixed for gold. Yet fundamentals remain bullish. As gold continues to move along upper channel line we believe that it is poised for further move up. Our short term price target remains 1850 USD and our medium term price target remains 1875 USD. Prior thoughts from 14th July 2021: More prior thoughts from 30th June 2021: Here we hinted...
Wychodzimy z procesu akumulacji, wiec według teorii powinniśmy zauważyć kontynuacje wzrostów. Mamy piękne przebicie struktury co również w teorii świadczy o tym ze jednak takie wzrosty maja duże prawdopodobieństwo ze nastąpią. DXY - Jeśli dolar utrzyma trend spadkowy to własnie wtedy zobaczymy kontynuacje wzrostów na XAU. Istotna manipulacja która nie została...