GOLD PRICE TECHNICAL ANALYSIS
gold break down major support and cross down 1305 $ , also we can see that
Gold failed to break up the upper bounder in 1360- 70$, we can see very clearly on the charts – trading between 1200-1360+- areas
The big question is when this shuffle trend will finish: will it go to 1400$ Or 1100$?
We have also others facts about US dollar and gold prices such as high yield, interest rates, geopolitical and other factors which could spell out less monetary policy tightening this year.
At this point, the Fed may still raise rates in March, but if we get bad data along this year, which is can be very likely, the market may revise its rate hike expectations
there is an interesting study that examined gold’s performance during periods of low inflation (3% or less) vs. high inflation (over 3%). The results confirmed what many of us instinctively knew.
The data over the past 47 years is clear: Gold rises more when inflation is higher than when it is lower, So if inflation heats up this year, history says the gold price will move higher.
If inflation becomes a new reality, it could easily start the next major bull market in gold.
ALSO NOTED FOR THIS: Gold price pattern
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| GOLD ANALYSIS |
Gold price technical analysis
As long as gold xau/usd stay and trade below 1305+_ the trend became bearish and targets are 1267 1240 1207, for short-term strategy if gold remains above 1291, I’m expecting to meet 1347 1333 1326 1315 areas – break down 1291 level will lead the gold go to 1247-1256, while we need to watch at 1268-1274 area.
Also, there is the price band is imprisoned between 1207 and 1346
Strong support: 1224-1233 price areas are meaningful numbers and the big trend support stay in 1207
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice