Overall Setup For Gold Is Bullish: Back To ATHs in 6 Month
Hello Fellas, before getting into my analysis if you like what I'm doing please hit the thump up for me, that will help a lot.
Introduction
Bullish fundamentals are erupting across the board in the precious metals market as global monetary policy accelerates the trend of currency debasement. Despite the rampant destruction of purchasing power and net rise in yields since the beginning of the pandemic, the fall in real yields and decades-high inflation numbers have not quite materialized a higher gold price as expected. Securities and derivatives’ prices continue to achieve all-time highs (ATHs) with slight corrections towards a peak as commodities, gold in particular, and their derivatives continue to reach key price levels and trendlines before topping out and going lower. Given the muted performance of the price of gold in US Dollars, it is, therefore, useful to examine the state of the fundamentals for context to technically analyze the price action. This enables a deeper study of possible trigger timeframes and, combined with the fundamentals, factors triggering a sudden move in the price to higher highs. Given the state of the global economy and the gold price action, a sharp bullish move is extremely plausible and likely.
Several technical patterns exist to identify patterns and distinct behaviors in price charts that allow traders and investors to empirically survey and visually deduce various qualitative and quantitative variables to make better trading and investment decisions. Occasionally the technical method which I personally use is Elliot wave. In the 4 hourly chart, the current sharp drop can be labeled as wave 4. meaning another impulse to the upside is on the way.
Coupling both performances in the context of this technical analysis with macroeconomic fundamentals will be an invaluable aid in determining the nature of the bull case for gold. I'm hugely in gold buys and I do expect this to high ATHs in 6 months.
Also please understand that these are my personal views and they could be wrong. I will update this idea as we start going up.
Introduction
Bullish fundamentals are erupting across the board in the precious metals market as global monetary policy accelerates the trend of currency debasement. Despite the rampant destruction of purchasing power and net rise in yields since the beginning of the pandemic, the fall in real yields and decades-high inflation numbers have not quite materialized a higher gold price as expected. Securities and derivatives’ prices continue to achieve all-time highs (ATHs) with slight corrections towards a peak as commodities, gold in particular, and their derivatives continue to reach key price levels and trendlines before topping out and going lower. Given the muted performance of the price of gold in US Dollars, it is, therefore, useful to examine the state of the fundamentals for context to technically analyze the price action. This enables a deeper study of possible trigger timeframes and, combined with the fundamentals, factors triggering a sudden move in the price to higher highs. Given the state of the global economy and the gold price action, a sharp bullish move is extremely plausible and likely.
Several technical patterns exist to identify patterns and distinct behaviors in price charts that allow traders and investors to empirically survey and visually deduce various qualitative and quantitative variables to make better trading and investment decisions. Occasionally the technical method which I personally use is Elliot wave. In the 4 hourly chart, the current sharp drop can be labeled as wave 4. meaning another impulse to the upside is on the way.
Coupling both performances in the context of this technical analysis with macroeconomic fundamentals will be an invaluable aid in determining the nature of the bull case for gold. I'm hugely in gold buys and I do expect this to high ATHs in 6 months.
Also please understand that these are my personal views and they could be wrong. I will update this idea as we start going up.
Commento:
im not into fresh buys yet. whenever i get into buys I will update here
Trade attivo:
I'm in the buys people
Ordine annullato:
this seems more downside
