Sharing my fundamental analysis of Gold.
The metal has been flying this year going up nearly 30% since the YTD low's, now it is in consolidation mode until the next big move.
My short term view on Gold is negative, however my medium 5 year plan for the metal is to reach 3000 dollars per OZ, Central banks buying gold at the biggest levels since 80's, asset managers increasing their gold position to 135,979 long and 33,176 short.
Pay attention to the supply boxes and act accordingly to price action around those areas... apart from that the pair is a no trade unless day trading occurs.
Waiting for NFP + FED decision to see where the gold is looking to go during May. Pay close attention to the news!
The metal has been flying this year going up nearly 30% since the YTD low's, now it is in consolidation mode until the next big move.
My short term view on Gold is negative, however my medium 5 year plan for the metal is to reach 3000 dollars per OZ, Central banks buying gold at the biggest levels since 80's, asset managers increasing their gold position to 135,979 long and 33,176 short.
Pay attention to the supply boxes and act accordingly to price action around those areas... apart from that the pair is a no trade unless day trading occurs.
Waiting for NFP + FED decision to see where the gold is looking to go during May. Pay close attention to the news!