Gold has been on a parabolic rise and now with the FED rate rise we could see a sell- off.
On a four Hour time frame, we have a Bear flag and if this structure breaks we could go down further.
Initial interest rate rises have been like kryptonite to Gold previously and I expect if the current structure breaks potentially a re-test of the rising trend line.
See Weekly Chart Linked below
On a four Hour time frame, we have a Bear flag and if this structure breaks we could go down further.
Initial interest rate rises have been like kryptonite to Gold previously and I expect if the current structure breaks potentially a re-test of the rising trend line.
See Weekly Chart Linked below
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Related publications
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.