There are two possibilities in Gold. Sharing my favored possibility here. Will share possibility 2 in another post.
Gold went up on account of multiple reasons, key of which being de-dollarization and buying by Non US countries.
However, my sense is that the spike in price was on account of trades from institutions, which will get unwound when price starts correcting and fuel the correction on the way down.
The move in last 2 weeks was a typical parabolic move, which should mark the capitulation.
Hence, look for correction of entire leg up from Oct 22 bottom.
Targets: 0.236: $2056, 0.382: $2781
Probable Risk: The last move from April lows was just 1 of 5. Hence keeping SL of current high is important.
Breaking 3150 (0.618 of the move from April) should give us more confident that 5 is done.
Gold went up on account of multiple reasons, key of which being de-dollarization and buying by Non US countries.
However, my sense is that the spike in price was on account of trades from institutions, which will get unwound when price starts correcting and fuel the correction on the way down.
The move in last 2 weeks was a typical parabolic move, which should mark the capitulation.
Hence, look for correction of entire leg up from Oct 22 bottom.
Targets: 0.236: $2056, 0.382: $2781
Probable Risk: The last move from April lows was just 1 of 5. Hence keeping SL of current high is important.
Breaking 3150 (0.618 of the move from April) should give us more confident that 5 is done.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.