After the Gold Bear Market, Gold found a Major support @1180, where it was able to make a double bottom after bouncing from its major resistance @1425
The breakout occurs after the price broke both, the 8ma and 21ma resistances, the 8ma crosses over the 21ma, and a MACD and price positive divergence occurs, which are all bull signs.
The next Resistance will be found @1350 at the 55ma where it will make a Cup and Handle pattern and probably will start a new uptrend.
The technical conditions are set for a new gold rush, which can be fueled by fear of economic conditions like unemployment, new house price index, inflation and the shadow of a new bear market in stocks.
The breakout occurs after the price broke both, the 8ma and 21ma resistances, the 8ma crosses over the 21ma, and a MACD and price positive divergence occurs, which are all bull signs.
The next Resistance will be found @1350 at the 55ma where it will make a Cup and Handle pattern and probably will start a new uptrend.
The technical conditions are set for a new gold rush, which can be fueled by fear of economic conditions like unemployment, new house price index, inflation and the shadow of a new bear market in stocks.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.