Gold for the Short Term
This analysis on 1D:
Gold is most likely heading down toward 1680 range for multiple reasons:
1: Gold is clearly having a bearish divergence.
2: Gold is far from the DaliyMMA50 and DailyMMA200.
3: Gold is not having enough momentum to break above the 1745 level.
4: There are two strong resistance level at 1745.
Lastly, we all know the federal bank is printing trillions of dollars out nothing, but these days more counties are easing restrictions to help the economy, so naturally people not as afraid as before, and some start selling their gold. However, for the long run gold will keep going up due to money printing which causes higher inflation.
This is my analysis take it or leave it at your own risk, I am not a financial advisor.
Gold is most likely heading down toward 1680 range for multiple reasons:
1: Gold is clearly having a bearish divergence.
2: Gold is far from the DaliyMMA50 and DailyMMA200.
3: Gold is not having enough momentum to break above the 1745 level.
4: There are two strong resistance level at 1745.
Lastly, we all know the federal bank is printing trillions of dollars out nothing, but these days more counties are easing restrictions to help the economy, so naturally people not as afraid as before, and some start selling their gold. However, for the long run gold will keep going up due to money printing which causes higher inflation.
This is my analysis take it or leave it at your own risk, I am not a financial advisor.
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