Gold: Safe-Haven Demand Could Fuel the Next Rally
Gold has been without a clear direction for a long time. The movements over the past few weeks have been up and down without starting a new trend.
However, over the past week, Gold retested the 3960-3940 area and the price reaction was quite good, indicating buyers were well positioned there. It seems that market participants do not want gold to fall any further.
On the other hand, the price of oil is increasing more and reached $90 overnight, increasing concerns that inflation may rise again.
The geopolitical and economic situations remain unclear for the long-term outlook, so Gold should regain the safe-haven asset status it has.
The price is accumulating and a movement above the Triangle should push gold further to 4100, 4200 and 4350
You can find more details on the chart.
Thank you and good luck! 🍀
⚠️PS: Do your own analysis and use your own strategy to join the trade.
❤️ If this analysis helps your trading day, please support it with a like or comment ❤️
Gold has been without a clear direction for a long time. The movements over the past few weeks have been up and down without starting a new trend.
However, over the past week, Gold retested the 3960-3940 area and the price reaction was quite good, indicating buyers were well positioned there. It seems that market participants do not want gold to fall any further.
On the other hand, the price of oil is increasing more and reached $90 overnight, increasing concerns that inflation may rise again.
The geopolitical and economic situations remain unclear for the long-term outlook, so Gold should regain the safe-haven asset status it has.
The price is accumulating and a movement above the Triangle should push gold further to 4100, 4200 and 4350
You can find more details on the chart.
Thank you and good luck! 🍀
⚠️PS: Do your own analysis and use your own strategy to join the trade.
❤️ If this analysis helps your trading day, please support it with a like or comment ❤️
Trade active
From the analysis I posted yesterday, gold rose from 4000 to 4068
The current geopolitical situation is quietly pushing Gold higher this time. It seems we are not facing any problems from Insider Trading.
If Trump doesn't make comments to push everything again, then the bullish trend has already started. The price is well positioned for a bigger move.
As I have explained many times, the geopolitical situation only supports a stronger gold under normal conditions.
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
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.