XAU-USD Daily and Trend Analysis
XAU-USD Daily and Trend Analysis
Not much pun intended but gold like bitcoin running on a parabola spin..
Its quite obvious and not a surprise for a bullish gold as the dollar has been catastrophic of late, social and political unrest, constantly increasing debts-gdp ratio, enormous dollar printing QE, rapid increase in the covid cases and a failing economy.
I'd be damned if the precious metal dont break above its previous highs of 2k in the coming weeks as it appears cash aint no more king of the streets but the shiny metal slowly has crept back into the throne of its heaven.
H4 makes it clearly visible as the price currently toying above the breakout zone of the descending triangle, a rally, i expect soon as price crosses over the $1,935 level.
🌟 16,000pips / 1600 points expected from this run and NFX surely not missing it...
❇️ Trend Resistance R1: 1950
🛑 Trend Support S1: 1850
Not much pun intended but gold like bitcoin running on a parabola spin..
Its quite obvious and not a surprise for a bullish gold as the dollar has been catastrophic of late, social and political unrest, constantly increasing debts-gdp ratio, enormous dollar printing QE, rapid increase in the covid cases and a failing economy.
I'd be damned if the precious metal dont break above its previous highs of 2k in the coming weeks as it appears cash aint no more king of the streets but the shiny metal slowly has crept back into the throne of its heaven.
H4 makes it clearly visible as the price currently toying above the breakout zone of the descending triangle, a rally, i expect soon as price crosses over the $1,935 level.
🌟 16,000pips / 1600 points expected from this run and NFX surely not missing it...
❇️ Trend Resistance R1: 1950
🛑 Trend Support S1: 1850
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