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Gold First Bounce From Yearly Support

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Published by admin at July 26, 2022
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After breaking the strong inflection point from the ascending broadening patterns, gold prices hit the year’s strongest support at $1,680. The recent drop in gold prices to $1,680 was predicted for a few weeks. A similar pattern can be seen in the silver market, as silver has also reached a long-term support level of $18.70. Silver, on the other hand, has a weaker price behavior than gold. The recent drop in the gold market is due to strong demand for the dollar as a result of global recession fears. The dollar’s demand is not based on the booming US economy. A recession in the United States would also force the Federal Reserve to halt rate hikes and QT operations in order to drain excess liquidity from the economy.

The issue with gold is that rising interest rates and a strong dollar raise the opportunity cost of holding gold. However, these factors are heavily dependent on high inflation and geopolitical risk, which drive up gold demand. The recent drop in the gold market reflects market confidence that the Fed will be able to control inflation, thereby supporting the strong dollar, but the long-term inflows into gold ETFs demonstrate investor mistrust of the Fed’s ability to protect the purchasing power of the Dollar.

The Gold Outlook

The chart, which we’ve been discussing since 2020, was broken at the ascending broadening pattern line, allowing it to reach the year’s strongest support at $1,680. We have stated unequivocally that a strong bounce from $1,680 will be followed to determine the next move in the gold market. The current $50 gold bounce is underway, and prices are accelerating higher toward the next resistance level. Based on the price action, it is clear that if the gold market confidently breaks $1,680, then patterns will confirm a double top with the possibility of a large decline. A sustained hold at $1,680 with a breakout from $2075, on the other hand, will start the next rally. Based on the recent drop in the gold market, price structures have developed two possible cases for the gold market’s next move. This report will discuss these two cases.

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2 Comments

  1. נערות ליווי says:
    September 9, 2022 at 12:34 pm

    Im extremely pleased to uncover this site. I need to to thank you for your time for this particularly fantastic read!! I definitely enjoyed every little bit of it and I have you saved as a favorite to look at new information on your web site.

    Reply
  2. נערות ליווי says:
    October 14, 2022 at 3:43 pm

    מחפשים קליניקות להשכרה? היכנסו
    עכשיו ללינקלי ובעזרת מנוע החיפוש החדשני שלנו תוכל למצוא מהר ובקלות את השירות אותו אתם
    מחפשים. רעיון חדיש בתחום מציע קליניקות להשכרה לפי שעה, במסגרתן ניתן לבצע טיפולים אך ורק לשעות שנקבעו לכם מראש וללא הוצאה
    כספית מופקעת. מנגד, כל עוד תקבלו עיסוי בבאר שבע בלבד לאורך כ-45 דקות ועד שעה,
    המחיר שתצטרכו לשלם יהיה נוח הרבה
    יותר ויהפוך את חווית העיסוי לנגישה גם לכם!
    בחורה מפנקת הגיע לבאר שבע תעשה
    לך עיסוי מפנק במיוחד שיקל על גופך וחייך לבני… • טיפוליים אישיים – בין אם כעיסוי מפנק או כטיפול למכאובים
    ובעיות ספציפיות, המוצע כמפגש בודד או
    כסדרת טיפולים. אם אתם מחפשים להעביר ערב מדהים או אפילו כמה שעות מסעירות במיוחד
    אתם חייבים מקום שקט, מקום מוגן והכי חשוב?
    יש בעיה של מיקום והכי חשוב
    דיסקרטיות שקט אינטימיות אווירה טובה ומקום הגייני ועדיין אין לכם מקום מפגש אינטימי ודיסקרטי.
    רבים מהבחורים הצעירים עדיין מתגוררים עם ההורים בגלל המצב הכלכלי,
    ויש גם רבים אשר בדיוק מאותן הסיבות חולקים דירה עם שותפים וגם שם לא
    תמיד יש פרטיות.

    Reply

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