Gold Spot / U.S. DollarUpdated Gold daily forming a bull trap?
Buyers rushing back in because of the wick yesterday, and closing above the trendline suggesting upward momentum intact. But watch out. Could drop sharply for the rest of the week as momentum shifts negative and the buyers rush to sell in order to cover their mistake. But lets see.
Note
Other top indicators: Gold demand is the highest it has been in 11 years.Federal interest rates are about to hit 5% maybe more!
Recession/depression is also likely coming imo, it happens when you go from 0% interest and trillions in dollars of stimulus, to just stop overnight. But lets see.
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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.