This has been published by Credit Suisse and I am just publishing the chart as per their analysis. This is what they wrote:
CREDIT SUISSE
“Gold maintains a top below $1765/61 and we view the current bounce as temporary and we look for a fresh fall to retest $1682/71 – the 38.2% retracement of the entire 2015/2020 bull market and the recent and June 2020 lows.”
“With US real yields and the USD expected to strengthen further our bias stays to the downside in Q2 for a move below $1682/71 with support then seen next at $1620/15 and ultimately the ‘measured top objective’ and 50% retracement at $1564/61. Whilst an overshoot to $1510 should be allowed for, our bias would be to start to look for a floor here.”
So this is what Big Players are aiming!
CREDIT SUISSE
“Gold maintains a top below $1765/61 and we view the current bounce as temporary and we look for a fresh fall to retest $1682/71 – the 38.2% retracement of the entire 2015/2020 bull market and the recent and June 2020 lows.”
“With US real yields and the USD expected to strengthen further our bias stays to the downside in Q2 for a move below $1682/71 with support then seen next at $1620/15 and ultimately the ‘measured top objective’ and 50% retracement at $1564/61. Whilst an overshoot to $1510 should be allowed for, our bias would be to start to look for a floor here.”
So this is what Big Players are aiming!
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.