Analyzing the rising wedge, RSI, Fibonacci retracements, and candlesticks on the daily. Looking at why it’s likely we see Gold retrace from here ($1,880). How bulls can initiate longs if they are patient. Quick Recap Gold was trading at around $1,845 on January 5th from the last GC analysis. I stated the likelihood of a minor Read More…
Higher-than-expected employment gains may put pressure on Gold. James Bullard suggested that 2023 might eventually usher in some inflation relief. The number of Americans submitting new claims for unemployment benefits decreased to a three-month low last week. Gold prices pulled back slightly on Friday but were on course for a third consecutive weekly rise. Investors Read More…
Gold is now only 12% away from 2022 highs. Critical technical indicators that help us understand recent price action. Analyzing an Orderblock and Moving Average Band for Improved Entries. Gold Up 2.6% So Far in 2023 It’s been a positive start for Gold, with the yellow metal up 2.6% in the first week of trading Read More…
Indices are trading near 2022 lows Technical analysis on NQ, Gold & CL What we can expect from 2023 What We Can Expect From 2023 2022 saw the majority of markets take a free fall. NQ dropped over 32%, ES ended the year down 18%, and Gold, traditionally a safe haven ended flat on the Read More…
Investors are growing more worried that a recession will occur in 2023. Initial claims for unemployment benefits increased by 2,000 in the US. US gross domestic product expanded at an annualized rate of 3.2% last quarter. Gold prices recovered slightly on Friday after a big collapse. Robust economic figures fanned concerns that the Federal Reserve’s Read More…
There are increased recession worries as major central banks continue hiking rates. The Bank of England may be nearing the end of its tightening cycle. Retail sales in the United States declined more than forecasted in November. Gold prices increased on Friday as the safe-haven dollar decreased, giving up some significant gains in the previous Read More…
