Gold- Don't p... against the wind, buy dips instead

13 апр. 2023 г.

Yesterday was a very volatile day for Gold and after a drop to newly formed support, the price spiked up on CPI data, just to drop again towards 2k.
Looking at price action in the short term, the idea in my mind is that bulls are very determined to defend support and put Gold in the 2k era for good.
From a technical perspective, we still need to clear the 2020-2025 zone, but with this level broken, the next stop is the old ATH with great chances of a new one.
In my opinion, with 2k strongly defended, is very risky to sell Gold at this moment and the best approach is to try to buy dips close to support.
I remain bullish as long as 2k is intact

14 апр. 2023 г.

Комментарий

Strong 250 pips day yesterday.
The idea remains the same: looking for a new ATH
Dips again should be bought and we have a clear zone of interest around 2030.
Also on a very short term a triangle is formed that also could play if we'll not have a spike down in clear support