Brief Notes:
1. USD is failing. I feel that it will gain back some strength in 2021. However, Gold is being valued more globally in my personal opinion.
2. Price point has been flagging down since August '20. Won't flag down forever.
3. COVID uncertainty mixed with technological developments from society in general tells me that this could be a good sign for commodity market.
4. Seems like price has rejected the new support between 1805-1750 and will shoot towards the new resistance.
5. Price should test at least 50% of the most recent trend upwards. However, I personally feel that price will break through the 50% and 61.80% and should test the $20K range at some point this year.
Let me know your thoughts. Not an expert. Just a hobby.
1. USD is failing. I feel that it will gain back some strength in 2021. However, Gold is being valued more globally in my personal opinion.
2. Price point has been flagging down since August '20. Won't flag down forever.
3. COVID uncertainty mixed with technological developments from society in general tells me that this could be a good sign for commodity market.
4. Seems like price has rejected the new support between 1805-1750 and will shoot towards the new resistance.
5. Price should test at least 50% of the most recent trend upwards. However, I personally feel that price will break through the 50% and 61.80% and should test the $20K range at some point this year.
Let me know your thoughts. Not an expert. Just a hobby.