From the Technical views:
1. Gold was reached the major high yesterday, and create a triple top on the monthly perspective.
2. From the weekly point of view, we have a strong demand area haven't retest yet if the gold will shift to the bearish environment, that is the potential target we can look for it.
3. From the daily point of view, a new structure was formed, if the next daily candle will close above this level, further upside is expected, otherwise, this could be a fake breakout and create a potential HNS for us.
From the Institutional's views:
1. Overall bullish bias on GOLD .
2. In the new data, more long positions and short positions were added, long increased 20k and short increased 5.7k, meaning that they are starting to accumulate their short positions in order to buy at the lower price.
How to approach GOLD?
1. Waiting for the '3' scenario I mentioned above arise, either fake breakout or continuation to the upside.
2. If the market will shift to the bearish environment, the weekly demand area is the potential target.
3. Sell at the moment is not a good idea, because overall is extremely bullish in the lower timeframe, the price can continue to move to the upside since big players still bullish on it.
4. Buy at the moment is not a good idea, because the current daily candle could be a fake breakout.
The result might not follow my analysis, this analysis is based on TA and COT perspectives.
Comment down below let me know your view on GOLD .
1. Gold was reached the major high yesterday, and create a triple top on the monthly perspective.
2. From the weekly point of view, we have a strong demand area haven't retest yet if the gold will shift to the bearish environment, that is the potential target we can look for it.
3. From the daily point of view, a new structure was formed, if the next daily candle will close above this level, further upside is expected, otherwise, this could be a fake breakout and create a potential HNS for us.
From the Institutional's views:
1. Overall bullish bias on GOLD .
2. In the new data, more long positions and short positions were added, long increased 20k and short increased 5.7k, meaning that they are starting to accumulate their short positions in order to buy at the lower price.
How to approach GOLD?
1. Waiting for the '3' scenario I mentioned above arise, either fake breakout or continuation to the upside.
2. If the market will shift to the bearish environment, the weekly demand area is the potential target.
3. Sell at the moment is not a good idea, because overall is extremely bullish in the lower timeframe, the price can continue to move to the upside since big players still bullish on it.
4. Buy at the moment is not a good idea, because the current daily candle could be a fake breakout.
The result might not follow my analysis, this analysis is based on TA and COT perspectives.
Comment down below let me know your view on GOLD .
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