GOLD Wait to see what happen (BEARISH LONG TERM)
If you see my previous analysis on gold we see I predict what it gonna happen in short term. Although i though it was a little correction to up strong. It was lateral in a time after do a big increase.
If you see it broke completly the channel long term to do a completly new channel bullish. That happen when the curve of interest rate began to cross and it anticipate a new crisis but most of the analists never know when it gonna happen so gold has been increasing since then. The cross to a new channel surprisly it happen when it finish the minichannel not waiting for another cicle.
NOW
Now we are in the last days of the big increase of gold. With this COVID all the data has been accelerated. If you observe the new grade of slope is quite bigger than the last one. It usually happen when it is gonna change the cycle, so probably in not more than one year we will se a bearish cycle in gold. With the COVID we have seen one big drop when a lot of money in gold go to cash to enter in market stock.
After that because is is not clear yet when we finish some reenter in gold and another stay in cash. Probably this days this cash is coming here.
TECHNICAL ANALISIS
I have not idea what it gonna happen since here on gold. I have two ideas, one is go to maximum in 2 weeks, (breaking the recent double topi it is marked) arriving to touch 9000 and other is go to one of the two support we see in the chart.
So long term it is clearly BEARISH, but medium term could be BULLISH, it dependes of how manage the situation. I recommend only take position with shorts. once it has broken the second channel in blue. Or take shorts when it arrive to the top of the big channels, waiting for corrections.
If you see it broke completly the channel long term to do a completly new channel bullish. That happen when the curve of interest rate began to cross and it anticipate a new crisis but most of the analists never know when it gonna happen so gold has been increasing since then. The cross to a new channel surprisly it happen when it finish the minichannel not waiting for another cicle.
NOW
Now we are in the last days of the big increase of gold. With this COVID all the data has been accelerated. If you observe the new grade of slope is quite bigger than the last one. It usually happen when it is gonna change the cycle, so probably in not more than one year we will se a bearish cycle in gold. With the COVID we have seen one big drop when a lot of money in gold go to cash to enter in market stock.
After that because is is not clear yet when we finish some reenter in gold and another stay in cash. Probably this days this cash is coming here.
TECHNICAL ANALISIS
I have not idea what it gonna happen since here on gold. I have two ideas, one is go to maximum in 2 weeks, (breaking the recent double topi it is marked) arriving to touch 9000 and other is go to one of the two support we see in the chart.
- If it go to maxium means than gold is gonna down very fast after and we can conclude the bullish rally for 5 years.
- If it go to take support we are waiting for more cicles bullish, and mean that the situation of COVID it is worse and uncertain.
So long term it is clearly BEARISH, but medium term could be BULLISH, it dependes of how manage the situation. I recommend only take position with shorts. once it has broken the second channel in blue. Or take shorts when it arrive to the top of the big channels, waiting for corrections.
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