gold futures
Technical Analysis

Gold futures (GC) soar as Dollar falters

  • Gold soars 8% in 2 weeks.
  •  RSI points toward bullish momentum with a possible consolidation period on the horizon.
  •  Trader mindset announcement.

Gold soars 8% in 2 weeks

Last week Tuesday marked the recent low for GC as it has rallied hard on the back of a weak Dollar.

We saw price bounce out of a minor support zone and rally up toward the 0.786 Fib level at $1,980.3. The next target for Gold bulls is the 100% Fib level which is the 2022 High at $2,078.8.

RSI bullish

The relative strength index is showing strong bullish momentum as it approaches oversold. It is likely that we will see some sort of consolidation period once the RSI trades above the 70 level since the rally has been so aggressive.

Bulls should be cautious of this and avoid chasing the market even if the Dollar continues to weaken heavily.

GC Daily chart showing fib levels and 2022 high
GC Daily chart

Announcement about trader mindset

Soon, we will be launching something called ‘trader mindset.’ It’s a series of 1 on 1 sessions traders can book to have with Jay.

In these sessions, we are going to focus 80% of our attention on mindset and 20% on the practical elements required in trading and markets. We are going to look at your schedule, personality, and trading philosophy to begin building a solid plan you can rely on. We will not cover trading strategies in these sessions nor technical patterns or setups. I am simply here to help you understand the best path forward toward achieving trading success. I am here to support you. We will be releasing a video soon with more details.

Topics we will discuss include:

  • Objective trading vs. subjective trading
  • Developing an actual plan and something that you can trust
  • ‘Importance’ as a major factor in why failure arises and how to release it
  • The ego and its role in trading decisions
  • How you can make trading easy
  • How to make the choice that successful trading is what you actually want
  • Vital exercises to improve your trading ability and decision making
  • Why your expectations on the outcome are the reason things don’t work out
  • All major athletes need coaches. Trading is no different
  • How to think in probabilities

If this is something that interests you and would like to be added to the list for a free session once rolled out, please add me on discord here Jay-OUP#6138, or send me an email at