🔻 Big Drive Down – After tapping -$3,500
Price tapped $3,500, triggering major profit-taking across Dubai - London and New York
Dubai started the sell-off
London piled in — aggressive push
New York confirmed the move — final slam down to fill the gap below.
📈 Now Price appears to be Pushing Back Up as it should to fill this mornings massive gap above from NZ open.
Gap below is now fully filled — technical objective met.
Buyers stepping back in from key demand zone.
Market now targeting the gap above to rebalance.
🔥 Macro Context Remains Bullish
Inflation is far from under control — expect it to rise still.
Interest rates will likely go up, not down good for Gold bad for Stocks.
Gold remains the primary safe-haven — this was a flush, not a reversal imho.
📍 Holding long bias.
Look to Elliott Wave projections on the chart for next target potentials.
: )
Price tapped $3,500, triggering major profit-taking across Dubai - London and New York
Dubai started the sell-off
London piled in — aggressive push
New York confirmed the move — final slam down to fill the gap below.
📈 Now Price appears to be Pushing Back Up as it should to fill this mornings massive gap above from NZ open.
Gap below is now fully filled — technical objective met.
Buyers stepping back in from key demand zone.
Market now targeting the gap above to rebalance.
🔥 Macro Context Remains Bullish
Inflation is far from under control — expect it to rise still.
Interest rates will likely go up, not down good for Gold bad for Stocks.
Gold remains the primary safe-haven — this was a flush, not a reversal imho.
📍 Holding long bias.
Look to Elliott Wave projections on the chart for next target potentials.
: )
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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.