Breaking out around 11. September towards 40.000$
Where strong resistence and strong bullish trendline crossing.
If breakout lower before, bullish trendline will most likely hold.
Be careful the rebound recently that happened because of the fed interest rate increase is just panic selling with the expectation of economic growth slow down and decrease in oil demand. The gap between low supply and high demand is too large to expect oil from becoming cheaper. The price is still following it's major bullish trend.
The oil price is still following the old upwards trend. The up and down spikes are just exaggerated pump and dumps recording the news which don't match the reality of supply and demand. Still going up higher as it looks.
This seems to me like the bulls took over breaking through the resistance which was pushing down the price. No signs of selling power.
Looks to me like BTC reached its bottom.
The horizontal trendline is very strong. I don't expect the Gold price to break above this trendline. Additionally is the price forming lower highs and lower lows.
Considering the bullish run in ecconomy also in forseeable future. I believe gold is not the most attractive investment on that price level. I see investors choosing different assets.
Gold also had...
