Alisabbaghi

GOLD need power to go to the UPside

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
With increasing the bond yield market and new number for 8.5% for US10Y gold drop to the 1800 area.
BUT gold doesn't remain in force of Supplier causing this asset to be always a risk hedge asset.
So we higher number for this shiny asset.
NOW the gold price creating a Rising Wedge pattern and is ready to the downside 1788-1794 area again to get power on support area

📉
⚪ The gold forecast is BULLISH
⚪ Fundamental is BULLISH
⚪ The COT report is 205,811 LONG positions
more info

XAUUSD

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.