gold bullish

11 мар. 2022 г.

With the majority of liquidity being in the form of stop losses from sellers overwhelming the liquidity provided from buyers, with the only liquidity being from the area under the bottom double bottom at 1960.50, after that is taken out along with the stop losses of the retail buyers with a strong bear move, the price would then likely continue to the downside and visit the bank candle at 1940-1950 where a strong reversal would likely happen between 1942.5-1947.5 and price would likely start going bullish from there on to upwards of possibly 2040, taking out all sellers stop losses and liquidity along the way forcing them to close their sell positions therefor giving price more momentum, fuel and liquidity to move the market even more bullish creating an event similar to that of a short squeeze. That technical analysis plus the ongoing situation in the world regarding Russian and Ukraine causing massive fear and panic driving the investors to be risk-off meaning precious metals such as gold are seen as a safe haven for investor's money during theses time creating even more demand, therefore, pushing price more upwards in a bullish manner, seen with the all-time high prices of 2070, and with no news of the conflict deescalating then gold ill more than likely keep pushing up.