Fundamental Analysis :
Since we all know the geopolitical tension we are living right now : Russian and Ukranian War, Palestinian and Israel conflict, Tension between USA and China, BRICS buying gold massively.
Also increasing inflation all over the world, increase in interest rates is globalised...
Gold also is very correlated with US CPI, GPD, Housing...
Pair : XAUUSD ( Gold / U.S Dollar )
Description :
Lower High - Lower Low
Daily Descending Trend Line
Break of Structure
Falling Wedge in STF as an Corrective Pattern
Demand Zone
prices are reaching all-time highs and have
been doing so for a while.
One characteristic of gold that people have been
overlooking is that it has a positive skew.
This means that when gold prices make
significant gains, the volatility index (GVZ) for gold also rises.
We are at a resistance level. Could be a time to rebalance your portfolio,
It might be...
Gold (XAUUSD) Broke out from a channel and it's retesting the upper bound which is a confluence of support. Expect a bounce off from the levels to the upside. I've market the first and second TP areas.
Let me know what you think?
