GOLD Price Analysis 26/07/2020
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Hi guys and gals!! I would like to briefly divert our attention away from crypto.
(If that's okay? Haha.) 😃
I would like to discuss the current price and structure of GOLD.
This is really in a interesting and critical point right now so
I would also like to share it to you guys.
This is a weekly chart of GOLD so it is quite a long time range to look at but
it is really important for us to have a big perspective with this.
As I said, this is really sitting on a crtical point right now because it is currently
on the previous all time high of 1,900 USD from way back September 2011.
In my opinion, if it can break the 1,922 USD price and sustain from there,
this can lead to a massive upward swing.
I think also one of the reasons of this move has got to do with the current ongoing crisis
we are currently facing.
More and more people are much more realizing that it is better to park their wealth in a more safe haven such as Gold.
The volume surge also is a really good indication that more and more people are getting interested with this.
As we can see in the yellow arrow, the volume is much more bigger compared to the previous years from 2016 - 2019.
But ofcourse, anything can happen and this might get rejected and the price will go back down to its lows
so it is always safe and better to have a concrete plan before participating in this one or in any market in general.
So always have a plan and proper risk managament guys and gals.
If you want some chart requests or want me to analyze some coin or asset, just comment below and I will post it next.
Thanks!😃
Till next time,
Cheers!! 😃
Disclaimer: This is not a financial advice and for educational purpose only.