Emas Semerta / Dolar A.S.Panjang
XAUUSD: Countering the imminent Global Inflationary Pressures(D)
In view of the weird market response towards last week’s NFP, I’m of the opinion that Gold has nonetheless reviews a truer picture. Fundamentally, countries are throwing bonds and buying Gold. No?
In the Weekly, an Inverted H&S price pattern is in the making.
In the Daily, a Descending Broadening Wedge, with a Higher Low making it a Double Bottom right at the Demand Zone.
In addition of, there’s a Symmetrical Triangle (Red Lines) within the bigger Wedge. The recent breakout was supposed to be a “False Break” but the said Double Bottom has indicated that it is a “Failed False Break”, suggesting a Bullish Reversal is on the way.
FL1816 area is a critical level to watch. A confirmed breakout of it will confirm the Bullish reversal. Next hurdle is the 1848/1850 areas. A clearance could send the yellow metal to the 1900 area.
Disclaimer:
The above is just my humble opinion and I’m Bullish Bias about the Yellow Metal as I already have a small Long position taken after the making of the Double Bottom.
Always: “Trade at your Own Risk”!
In the Weekly, an Inverted H&S price pattern is in the making.
In the Daily, a Descending Broadening Wedge, with a Higher Low making it a Double Bottom right at the Demand Zone.
In addition of, there’s a Symmetrical Triangle (Red Lines) within the bigger Wedge. The recent breakout was supposed to be a “False Break” but the said Double Bottom has indicated that it is a “Failed False Break”, suggesting a Bullish Reversal is on the way.
FL1816 area is a critical level to watch. A confirmed breakout of it will confirm the Bullish reversal. Next hurdle is the 1848/1850 areas. A clearance could send the yellow metal to the 1900 area.
Disclaimer:
The above is just my humble opinion and I’m Bullish Bias about the Yellow Metal as I already have a small Long position taken after the making of the Double Bottom.
Always: “Trade at your Own Risk”!
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Penerbitan berkaitan
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.