Take this with a grain of salt. I am no expert, and this is not financial advice.
Technical Analysis (TA):
As we look at the hourly (1hr) timeframe, we can see a strong upward movement followed by a temporary consolidation creating a bullish pennant pattern suggesting a trend continuation. A conservative target puts us at around $3,350 per troy ounce of gold, but we could go as high as $3,494.63 to be exact.
Fundamentals Analysis (FA):
Macroeconomic Uncertainty: I can go into great detail about what is happening, but I would be writing an essay the size of 10 pages, and I don't want to do that now, so here is a quick and simple overview:
Technical Analysis (TA):
As we look at the hourly (1hr) timeframe, we can see a strong upward movement followed by a temporary consolidation creating a bullish pennant pattern suggesting a trend continuation. A conservative target puts us at around $3,350 per troy ounce of gold, but we could go as high as $3,494.63 to be exact.
Fundamentals Analysis (FA):
Macroeconomic Uncertainty: I can go into great detail about what is happening, but I would be writing an essay the size of 10 pages, and I don't want to do that now, so here is a quick and simple overview:
- Tarrif War between the United States of America and China (as well as other countries) could lead to economic slow downs as well as poor revenue's for companies.
- Start-ups are dead. As of today, there has been an alarming rate of start-ups which has been failing and unable to secure funding, and yes I am aware start ups fail all the time and funding dries up, just at the current rate it is scary how many are actively failing where a year back they were alive and well with bright futures and investment potential, investors are running to safe havens such as GOLD to keep their funds safe.
- Central banks are expected to pause or even cut rates, which is typically bullish for gold, as lower rates reduce the opportunity cost of holding non-yielding assets.
- Geopolitical Tensions: War War War :(
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.