Analysis on Gold ( weekly time frame )
gold considered as a safe heaven as an investment + as an asset !! and its true before current fiat era buying and selling was done in the exchange of precious metals including gold !
on current situation ( war / global tensions ) Both fundamentally and technically gold is bad ass stronger ! if we look at the war factor if war happens gold will take over fiat system because fiat is all backed by government & controlled by government money will flow into gold market ! we have already seen the recent pump of Gold market on russia 🇷🇺 & ukraine 🇺🇦 war news !
lets talk about technical aspects now ! On the bigger time frame ( 1W ) gold is forming a massive bullish cup & head pattern with the high resistance at $2044 !! above the resistance gold market will pump massively in up coming years ! below the resistance it can consolidate and ca retest the area of $1822 - $1806 !
ps:- this is my analysis on the chart ! Don’t consider it as a financial advice !
on current situation ( war / global tensions ) Both fundamentally and technically gold is bad ass stronger ! if we look at the war factor if war happens gold will take over fiat system because fiat is all backed by government & controlled by government money will flow into gold market ! we have already seen the recent pump of Gold market on russia 🇷🇺 & ukraine 🇺🇦 war news !
lets talk about technical aspects now ! On the bigger time frame ( 1W ) gold is forming a massive bullish cup & head pattern with the high resistance at $2044 !! above the resistance gold market will pump massively in up coming years ! below the resistance it can consolidate and ca retest the area of $1822 - $1806 !
ps:- this is my analysis on the chart ! Don’t consider it as a financial advice !