GOLD Analysis
World gold prices closed at the peak of the last 6 weeks, but the information on the world financial markets promises to be able to boost the price of metal products to continue increasing in the new year.
The price of gold increased mainly because investors were still afraid of the US economic prospects even though the country's stock market continued to set new highs. The concern is that the investment activities of US businesses are still quite quiet.
The instability in US-China relations may cause the two leading economies in the world to be less prosperous and thereby positively impact on the price of gold. The Chinese economy is showing signs of sharp decline in growth.
Even in the case of a positive US economy, the return of inflation will cause many commodities, including gold and oil, to increase.
There are many experts predicting the price of gold to 1550 in the next few months.
Technical analysis
In one aspect, on the H4 time frame. The price after breaking the previous triangle pattern. At the same time, the trendline break down after a long cumulative period. H4 forms the higher high, demand zone, This individual has made a comment earlier this week, followed by the closing of the candle above 1490, further strengthening the psychological momentum of the upcoming gold bull. usdindex continues to fall.
Consider buy signal 1499-1500 SL 1496 TP 1511-1515 (note the price needs to break 1504 previous swing resistance)
The price of gold increased mainly because investors were still afraid of the US economic prospects even though the country's stock market continued to set new highs. The concern is that the investment activities of US businesses are still quite quiet.
The instability in US-China relations may cause the two leading economies in the world to be less prosperous and thereby positively impact on the price of gold. The Chinese economy is showing signs of sharp decline in growth.
Even in the case of a positive US economy, the return of inflation will cause many commodities, including gold and oil, to increase.
There are many experts predicting the price of gold to 1550 in the next few months.
Technical analysis
In one aspect, on the H4 time frame. The price after breaking the previous triangle pattern. At the same time, the trendline break down after a long cumulative period. H4 forms the higher high, demand zone, This individual has made a comment earlier this week, followed by the closing of the candle above 1490, further strengthening the psychological momentum of the upcoming gold bull. usdindex continues to fall.
Consider buy signal 1499-1500 SL 1496 TP 1511-1515 (note the price needs to break 1504 previous swing resistance)
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