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Analysis on #GOLD
So I thought with the bond yield bleeding and the chase for return kicks in the biggest beneficiary will be GOLD, somewhat it happened but no following through in the gold market, I wonder why?
I see Gold still supported above 1800 but it is spending a lot of time testing this level, maybe the market waiting to hear from FED this Wednesday, or maybe the CPI will be the key.
all in all, still believe that Gold should move higher with Deltacoronavirus development, and the fear of growth expectation is very high and future growth might be less than the expectation.
it is very complicated to understand gold right now, it could be a very volatile period to get into the gold trade if you don't understand what moves gold market.
I hope my analysis was not too complicated and I was able to deliver to you that I am cautiously bullish gold as I fear we have formed a head and shoulder pattern and cpi might be a surprise to this market.
Check today analysis below⠀
>>“The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless."
Analysis on #GOLD
So I thought with the bond yield bleeding and the chase for return kicks in the biggest beneficiary will be GOLD, somewhat it happened but no following through in the gold market, I wonder why?
I see Gold still supported above 1800 but it is spending a lot of time testing this level, maybe the market waiting to hear from FED this Wednesday, or maybe the CPI will be the key.
all in all, still believe that Gold should move higher with Deltacoronavirus development, and the fear of growth expectation is very high and future growth might be less than the expectation.
it is very complicated to understand gold right now, it could be a very volatile period to get into the gold trade if you don't understand what moves gold market.
I hope my analysis was not too complicated and I was able to deliver to you that I am cautiously bullish gold as I fear we have formed a head and shoulder pattern and cpi might be a surprise to this market.
Check today analysis below⠀
>>“The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless."
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