Xau circles around the death box.
The price of gold is currently uncertain, as it is highly influenced by market sentiment. The FOMC statement on Wednesday could prove pivotal in establishing a real direction for gold. I favor the bulls for a continuation to the $2,000 psychological level, as several confluences of what I call the "death box" align to support price continuing its bullish run.
I expect a manipulation to take out my sellside liquidity/previous week low, then expand massively to the upside. Just underneath my pwl lies my optimal bullish fair value gap, Daily fibs golden ratio, Weekly 0.38 continuation zone, and Daily 50EMA. If gold falls below $1,950-$1,943, then a bearish outlook may be considered. However, for now, the bias is very bullish, and if the FOMC and unemployment claims support this claim, gold may be looking to break the all-time high within the coming week. Thread carefully today manipulation is underway🚨⏰.
I expect a manipulation to take out my sellside liquidity/previous week low, then expand massively to the upside. Just underneath my pwl lies my optimal bullish fair value gap, Daily fibs golden ratio, Weekly 0.38 continuation zone, and Daily 50EMA. If gold falls below $1,950-$1,943, then a bearish outlook may be considered. However, for now, the bias is very bullish, and if the FOMC and unemployment claims support this claim, gold may be looking to break the all-time high within the coming week. Thread carefully today manipulation is underway🚨⏰.
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