🥇 Golds Rise Likely To Speed Up... Even A New ATH Possible!

4 Jan 2023

Golds rise is likely to speed up even while the stock market prepares to print a relief rally.

We are likely to see Gold (XAUUSD) growing together with the SPX... Wait!

Forget about the S&P 500 Index, this is the Gold chart.

Here we have quite a few bullish developments to mention/look at but first...

Feel free to Boost 🚀 and read the 26-Dec-2022 trade idea below:

💿 The Evolution Of Money | ₿ Bitcoin vs 🥇 Gold | I ❤️ Gold!

XAUUSD is trading daily above MA200 and all the EMAs we use, those being EMA10/21/50/100/300.

Trading above MA200 and EMA300 is a significant development for the bulls and opens the door for long-term growth.

Not that we will necessarily have long-term growth but the doors are open, this is now in the cards based on this simple signal.

A very strong RSI supports this current move but the trading volume is low.
Two ways to read the low volume...

1) Things are just getting started and the volume is yet to come in.
2) There can be a reversal later on...
Let's add a third... 3) Simple continuation and this type of market can work/grow on low volume as well.

There is a "W" pattern from October to September 2022 which tends to lead to slow and steady growth.

See how this same pattern performed for Monero (XMRBTC) back in 11-April-2022... The pair has been growing since!

Well my friends... Gold looks really good.

The main support is the range between $1,750 and $1,780.
Anything above this level is strongly bullish.

If XAUUSD moves below this range, then things can change... Meanwhile, the bulls have control right now of this game.

Enjoy your week.
Happy new year 2023.
Make peace and love not war.

Oh wait... Even a new All-Time High is possible!
The targets are mapped on the chart.

Namaste.