Gold is consolidating at current levels after a very solid run over the past two years. It is now one of the world’s most valuable asset classes, and there could be a multitude of reasons why the price is down in recent weeks.
We do not really know, and probably will not truly find out. What we do know is that consolidation is normal.
Markets are driven by three things: fundamentals, momentum, and leverage. The former has not changed, the other two have. Geopolitical unrest will continue to test the price, which will reduce momentum and leverage plays as the direction is now unclear.
Any decent pullback should find support at the 200-day moving average, which suggests there is probably a little more downside before stabilisation.
The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.
We do not really know, and probably will not truly find out. What we do know is that consolidation is normal.
Markets are driven by three things: fundamentals, momentum, and leverage. The former has not changed, the other two have. Geopolitical unrest will continue to test the price, which will reduce momentum and leverage plays as the direction is now unclear.
Any decent pullback should find support at the 200-day moving average, which suggests there is probably a little more downside before stabilisation.
The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.
The Blueberry Team
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Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.