Right now GOLD is making a descending triangle pattern...
This pattern usually lead to a break to the downside...
Letss see how GOLD will act in the coming weeks and months...
I am suspecting it will fall as I believe that we are still in the bullish cycle in coming years.. But if not, then we can confirm that $1700 ish is the bottom.
When we are in a bullish or economic growth, investors and retailers usually will leave safe assets and go into a rather risky assets to generate higher return...
Assets such as stocks and cryptos would be able to perform really2 well if we are still indeed in the bull cycle..
My analysis predict that GOLD could go back to $1300 - $1450-ish if there's indeed a strong movement to the downside as investors and retailer leaving GOLD for other assets.
But as always, not financial advice...
#NotFinancialAdvice
This pattern usually lead to a break to the downside...
Letss see how GOLD will act in the coming weeks and months...
I am suspecting it will fall as I believe that we are still in the bullish cycle in coming years.. But if not, then we can confirm that $1700 ish is the bottom.
When we are in a bullish or economic growth, investors and retailers usually will leave safe assets and go into a rather risky assets to generate higher return...
Assets such as stocks and cryptos would be able to perform really2 well if we are still indeed in the bull cycle..
My analysis predict that GOLD could go back to $1300 - $1450-ish if there's indeed a strong movement to the downside as investors and retailer leaving GOLD for other assets.
But as always, not financial advice...
#NotFinancialAdvice