Covid vaccine may see positive effects on Gold through Mar@Apl
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I did initially see a possible start of the precious metal moving back to the main trend pre-end of March, as price began to settle around 1800, a sudden push south the last 7 days may be further indication of a more momentum related push north to return to the trend line from 2018, my long term view did show this dip, (see linked chart below), but with less strength and moving through March, as my thoughts were covid related, (very stupid of me), and not bank and previous market action, this push south during February may see March and April moving north, with potential for further continuation through May and June,
areas to watch for are 1728, 1740, 1762, 1800, 1828, 1858 and 1900, 1926 and 1932
For further information about my analysis please feel free to message me.
areas to watch for are 1728, 1740, 1762, 1800, 1828, 1858 and 1900, 1926 and 1932
For further information about my analysis please feel free to message me.
Comment:
As requested removed some of the noise from the chart to make it more readable
Comment:
Comments
The price could go down to 1677.30. Price closing down below 1 year support line ( 8th March 2020 ). I wont prefer long position now. Too danger for my equity. Next support target 1677.30.Anyway, i will keep an eye with this idea. Also possible with nice explanation.
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It looks so horrific when you look at what we’re up against... the dollar & the us10y sooo strong. Very hard to say next week if that momentum can be stalled for gold to have an opportunity to climb. Stocks have recovered today with great strength. Could be risk off next week giving us better chances with the dollar a little weaker 👌🏾
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