It's looking good for
$Gold - main 2302(GCmain)$ so far in 2023, so has it got its shine back? Battered by Bitcoin, out of love with investors and traders can it push through 2100 highs and head toward 2500 or will we see it fizzle out once more and head back to the 1600's? I take a look at a host of variables to see where the price of Gold may be heading next!!
Watch the full video analysis on my YouTube channel here:
GOLD PRICE TO $2500 IN 2023 - WHERE NEXT?! [ANALYSIS & PREDICTIONS]
Summary: Overall BULLISH
The charts:
Variables: Dollar weak, Commitment Of Traders Bullish, Seasonality Bullish (see video for detail)
Key price zones: (see weekly line chart attached) - highs 2100 - upsides 2500. Downside pull back zone 1900 to 1800.
Targets & Risk Management (See also Renko chart attached)....
Bullish upsides: T1: 1965, T2: 1975, T3: 2025
Bearish Downsides: T1915 T2 1905 T3: 1900
Stops: Bullish 15, Bearish 16.5
If you are bearish GOLD, take a look at the attached Line Break chart signalling a bearish reversal - you could be more aggressive and get in at 1935 or be more patient and wait for 1930 levels.
Conclusion - Looking good to the upside at the moment but can it maintain this strength to push through the 2100 highs into fertile trading ground!!??
Follow me on YouTube : @thestophunter
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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