A very simple SHORT idea for long term traders.
Hi Folks:
Here's my view on GOLD for long term traders.
The wedge is narrowing and at some point price will break out either way. Based on fundamentals and current macroeconomics I would say it will break down as pandemics are entering into a possible final stage and we are going to be back to our "previous" lives, the good old days.
T1 1700 followed by T2 at 1451.
Gold has been used in the past to counter inflation effects but this time the interest rates are ZERO in the main global poles (USA and EU) therefore the gradual interest hike mainly in the USA followed slowly in the EU will send gold prices down.
STAY SAFE. Cheers
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Here's my view on GOLD for long term traders.
The wedge is narrowing and at some point price will break out either way. Based on fundamentals and current macroeconomics I would say it will break down as pandemics are entering into a possible final stage and we are going to be back to our "previous" lives, the good old days.
T1 1700 followed by T2 at 1451.
Gold has been used in the past to counter inflation effects but this time the interest rates are ZERO in the main global poles (USA and EU) therefore the gradual interest hike mainly in the USA followed slowly in the EU will send gold prices down.
STAY SAFE. Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.