Gold expressed in Yuan: Trend is up in the quarterly timeframe
Updated
But due to retrace here likely...The retrace to come will be a great buying opportunity in Gold, the Yuan chart is an interesting way to look at it, given the activity of chinese capital flows. I'm following the Hong Kong activity closely, specially interesting to observe developments regarding the extradition laws in the former British colony. Recently, protesters dissuaded the government to move forward with this law, so for now, things didn't escalate, but I'm sure chinese money is likely to flow out of the country gradually, towards gold and possibly crypto, before things get harder for them to escape via HK.
Keep an eye on this chart, a retrace in it will bring a great trading opportunity, and it will likely occur once commercial gold traders approach net long or flat positioning once again.
See related ideas for more info.
Cheers,
Ivan Labrie.
Keep an eye on this chart, a retrace in it will bring a great trading opportunity, and it will likely occur once commercial gold traders approach net long or flat positioning once again.
See related ideas for more info.
Cheers,
Ivan Labrie.
Note
Gold likely peaked, the next retrace, during July-August will be an amazing buy after it bottoms.Trade active
It did retrace and a great entry came to be.Note
#Gold in #Yuan is on track to reach target #2 over time: 14564.20 cnh per ounce of gold Trade active
A top by late Sep/early Oct is looking very logical!
🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
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.