The gold price has broken the upper descending trendline, indicating strong bullish momentum.
A contra of my previous forecasting on gold.
I am not surprised as CHINA has answered back with a heavy retaliation against President Trump on its tariff hike, which has pushed the price of gold higher.
This theory has its confluence with the past price history of November 2018 as I mentioned before in my earlier post regarding GOLD.
However, I am waiting for a pullback and bullish price action confirmation on support level (*WHITE support line) 1294.67 - 1287.44 before entering this trade.
For all we know, Donald Trump and China like to put up a show and its normal for a businessman to make threats before closing a deal. And President Trump is a businessman and it has been his character to make such threats.
A contra of my previous forecasting on gold.
I am not surprised as CHINA has answered back with a heavy retaliation against President Trump on its tariff hike, which has pushed the price of gold higher.
This theory has its confluence with the past price history of November 2018 as I mentioned before in my earlier post regarding GOLD.
However, I am waiting for a pullback and bullish price action confirmation on support level (*WHITE support line) 1294.67 - 1287.44 before entering this trade.
For all we know, Donald Trump and China like to put up a show and its normal for a businessman to make threats before closing a deal. And President Trump is a businessman and it has been his character to make such threats.