The Gold Odyssey continues as old is still Gold
On 20 Feb 2022, Gold was reviewed as "The Gold Odyssey continues... an old but Gold story"
It was almost two months ago that was described the handle (of the giant sized Cup & Handle) would be completed this year. Since then, we had a preview with Gold spiking to 2078, only to pull back hard. This shook weak hands badly, having retraced to hard over a week. As I told my circle about gold last week, many asked if Gold is actually not going down. And yesterday's long upper tailed doji might have misled more to think so too.
We need to see the big picture for this.
The weekly chart is suggesting that this week is critical to see a bullish run start. This just so happens to be in the 4 April and 16 April window marked out since February.
Furthermore, the daily technicals look about ripe to launch off a bull run, and it should be above 1980 by the end of the week for a clear bullish break out.
Having done that, 2100 would be the target by mid-2022.
PS. I do not like the reasons for this bull run as, in alignment to the markets declining, something is about to happen that we do not see yet... not in the papers at least.
Stay safe...
It was almost two months ago that was described the handle (of the giant sized Cup & Handle) would be completed this year. Since then, we had a preview with Gold spiking to 2078, only to pull back hard. This shook weak hands badly, having retraced to hard over a week. As I told my circle about gold last week, many asked if Gold is actually not going down. And yesterday's long upper tailed doji might have misled more to think so too.
We need to see the big picture for this.
The weekly chart is suggesting that this week is critical to see a bullish run start. This just so happens to be in the 4 April and 16 April window marked out since February.
Furthermore, the daily technicals look about ripe to launch off a bull run, and it should be above 1980 by the end of the week for a clear bullish break out.
Having done that, 2100 would be the target by mid-2022.
PS. I do not like the reasons for this bull run as, in alignment to the markets declining, something is about to happen that we do not see yet... not in the papers at least.
Stay safe...
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