GOLD - Quasimodo Head & Shoulders

9 Mar 2023

Bullish on gold for multiple reasons:

Bullish confluences on gold:

Inverted yield curve (Possible recession after yield curve flips)
= Short term bonds have a higher yield than long term bonds (Federal reserve pushing up interest rates to fight inflation)
Possible recession incoming...
Increase investments in asset classes with a potential Recession: - BONDS, GOLD, REITS


Powell says Interest rates rising so this might be bad for gold but it's still looking solid.


NOTE: if it breaks the right shoulder low this trade may be invalidated

10 Mar 2023

Not

NFP! Looks like Gold continued the push up!, watch for a bit of a retrace potentially.