Hi guys!
Today I would like to share my thoughts on the current gold price with you. Even if the gold price seems extremely turbulent at the moment, it certainly gives us the opportunity to trade in the direction of "long".
As you can see, a double bottom formed in the month of March to April, which has now broken out successfully by negotiating the MA50.
Aside from the fundamental economic aspects that should lead to rising gold prices in the next few months, I assume that the development of the double bottom will result in a trend change in the direction of bullish.
Knowing this, I assume that we will be testing the 1732.40 area as we start the next week after it bangs well towards $ 1800.
From there on, the channel should have developed and we should be able to trade further.
What do you mean? I am looking forward to your feedback!
Greetings,
Raffa
Today I would like to share my thoughts on the current gold price with you. Even if the gold price seems extremely turbulent at the moment, it certainly gives us the opportunity to trade in the direction of "long".
As you can see, a double bottom formed in the month of March to April, which has now broken out successfully by negotiating the MA50.
Aside from the fundamental economic aspects that should lead to rising gold prices in the next few months, I assume that the development of the double bottom will result in a trend change in the direction of bullish.
Knowing this, I assume that we will be testing the 1732.40 area as we start the next week after it bangs well towards $ 1800.
From there on, the channel should have developed and we should be able to trade further.
What do you mean? I am looking forward to your feedback!
Greetings,
Raffa
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.