Gold might continue the upswing
Gold is holding well amid a flash sell-off of the US dollar and stock indices.
The trend is already mature, but there are no signs of a reversal yet.
The trade location of Gold is so that it's not overbought yet and has a chance of testing higher levels, up to $2500.
The local weakness of the US dollar after weak NFP print may provide support for Gold, whereas geopolitical escalation in the Middle East may be another factor of support.
The false breakout of the displayed formation may be a pattern for buying.
Don't forget - always DYOR and manage your risk!
The trend is already mature, but there are no signs of a reversal yet.
The trade location of Gold is so that it's not overbought yet and has a chance of testing higher levels, up to $2500.
The local weakness of the US dollar after weak NFP print may provide support for Gold, whereas geopolitical escalation in the Middle East may be another factor of support.
The false breakout of the displayed formation may be a pattern for buying.
Don't forget - always DYOR and manage your risk!
Anmerkung
the first entry was trimmed, now it's a second opportunity to join this rally from 2390
Haftungsausschluss
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