A clear rounding up will provide the momentum for gold to reach $1900 in the short to medium term.
Due to current Momentum, Gold will most likely test its previous high. Once $1900 is reached, gold will attempt to break above, but I believe resistance will cause it to consolidate or correct.
Ultimately, due to such a large scale printing job by the FED and the overall uncertainty of everything, Gold may have the momentum to break out.
However, if the market continues its positive momentum, the new safe haven may be the invisible hand.
Due to current Momentum, Gold will most likely test its previous high. Once $1900 is reached, gold will attempt to break above, but I believe resistance will cause it to consolidate or correct.
Ultimately, due to such a large scale printing job by the FED and the overall uncertainty of everything, Gold may have the momentum to break out.
However, if the market continues its positive momentum, the new safe haven may be the invisible hand.
Note
No resistance here. Looks like 1900 now serves as support!
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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.