Hello everyone, here are some analysts for GOLD in long term (more than 1 year).
I. General observation:
After reaching the top, is nearly $2,000 at 03-Aug-2020. Bullish movement is slowing down. Price is mainly moving within price range from $1,700-$2,000. In this area, we can see fierce war between bull (buyer) and bear (seller). At 26-Sep-2022, bear express its power by break down movement under bull based $1,700. After that, bull entered and try to push the price up but again, bear got its dominance and beat bull at 1,900.
II. Analyst
Price try to break up strong resistance at $2.000 many times, but unsuccessfully, many bearish engulfing appeared at this area. The following movement just show the weakness of bull.
III. Conclusion
The high probability that price will drop to deeper support at $1,400-$1,500. Thefore, I recommend investment strategy that stay oustside, preapre money for next bullish waves.
I. General observation:
After reaching the top, is nearly $2,000 at 03-Aug-2020. Bullish movement is slowing down. Price is mainly moving within price range from $1,700-$2,000. In this area, we can see fierce war between bull (buyer) and bear (seller). At 26-Sep-2022, bear express its power by break down movement under bull based $1,700. After that, bull entered and try to push the price up but again, bear got its dominance and beat bull at 1,900.
II. Analyst
Price try to break up strong resistance at $2.000 many times, but unsuccessfully, many bearish engulfing appeared at this area. The following movement just show the weakness of bull.
III. Conclusion
The high probability that price will drop to deeper support at $1,400-$1,500. Thefore, I recommend investment strategy that stay oustside, preapre money for next bullish waves.