how will the Russia, Ukraine peace talks affect Gold
Gold prices have been making a steady run to the upside trading in a bullish ascending parallel channel. On the 24 Feb. 2022 we saw price push higher into the monthly supply peak of proximal price @ 1967.50 , which was an area of strong bearish momentum as it caused what was once a strong bullish candlestick to close with a small bearish body leaving a tall wick from the upside , which has sine been the recent high @ 1974.38 as price is trading in a small intraday range with average low @ 1886.62.
This was due to to the geopolitical risks of the Russia, Ukraine invasion as there was a decrease in liquidity resulting in increased volatility and emotions of fear leading indecisiveness amongst investors/speculators/traders worldwide.
If the peace talks are successful we might see a decrease in Gold prices and other commodities and traded energies , as Russia is the world's third largest producer of Xauusd , the success will mean the sanction to be imposed on Russia will not happen loosening the Russia global supply of Gold.
BUT if they are unsuccessful we may see a rally of gold prices as this will increase the chances of the invasion to continue leading to Russia being imposed with sanctions increasing demand of gold driving prices up.
I will be looking for sell opportunities if the peace talks are successful with targets at weekly S/R level @ 1848.78 but if not i will be looking for buy setups with possible targets at daily supply areas around @ 2033.86.
REMEMBER ; fundamentals give an idea on WHAT to buy/sell , technicals try solve the WHEN part.
The day the power of love overrules the love of power, the world will know peace. — Mahatma Gandhi.
This was due to to the geopolitical risks of the Russia, Ukraine invasion as there was a decrease in liquidity resulting in increased volatility and emotions of fear leading indecisiveness amongst investors/speculators/traders worldwide.
If the peace talks are successful we might see a decrease in Gold prices and other commodities and traded energies , as Russia is the world's third largest producer of Xauusd , the success will mean the sanction to be imposed on Russia will not happen loosening the Russia global supply of Gold.
BUT if they are unsuccessful we may see a rally of gold prices as this will increase the chances of the invasion to continue leading to Russia being imposed with sanctions increasing demand of gold driving prices up.
I will be looking for sell opportunities if the peace talks are successful with targets at weekly S/R level @ 1848.78 but if not i will be looking for buy setups with possible targets at daily supply areas around @ 2033.86.
REMEMBER ; fundamentals give an idea on WHAT to buy/sell , technicals try solve the WHEN part.
The day the power of love overrules the love of power, the world will know peace. — Mahatma Gandhi.
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