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GOLD made new all-time high back in 2020 and then pulled back to 1676 which set the trading range for next year and a half. During that period there was a break of violet downtrendline which was subsequently backtested and provided support several times. Now just recently price tried to break down out of the range but the breakout failed as there was no real follow through and actually after few days GOLD bounced strongly and got back inside the range (above range low). Currently price is just trying to break the yellow downward channel in which price was "locked" from last march. IF it really breaks up, then we could see move to the upper range (2000ish) in next weeks/months.
See my silver analysis which supports this gold thesis:
See my Gold/Silver ratio analysis which supports this gold thesis:
Check my other stuff in related ideas.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Valuable analysis, I wonder if this is already a trend reversal for good
bizmark
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@InvestMate, thanks, hopefully yes. XAUXAG looks like it topped so bull is finally here I guess.
georg0101
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Detailed analysis many thanks
egillis214
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Not yet... breakout will be delayed until news breaks on pricing & supply chain issues.
Solldy
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Many thanks for sharing your perspective on the analysis of this asset. There are some doubts about the levels the price can reach, but in general I agree with you.