@Stefano_s010, Good point bro. Yes, it should, if it will go as it did before. However, it all depends on the reason. If it's a geopolitical thing... then there is no reason for XAG & XAU to drop. This way, the recession will force the Indices to crash, while metals will fly.
IvanSkribchenko
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Well done, fantastic analysis and result! Can you publish for Gold please?
Lionheart-EWA
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@IvanSkribchenko, Thank you for the nice comment. I will do that on XAU on the next set-up.
@Lionheart-EWA, thank you for the analysis. In general I am bullish on gold as the lows are pretty tempting to buy. However, in general, DXY is up since FED stance is not changed, so I believe we would expect for more downside till the end of 2022 if 1610-1620 is broken. On the contrary, a strong buy may come once we brake above 1678-1685 area. There is a bullish divergence on daily which is the strongest reversal pattern of them all. This Friday's NFP may trigger one more bullish run to the mentioned level.
Lionheart-EWA
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@IvanSkribchenko, Thanks for sharing the chart. You may be right and XAU could be tricking. No matter what they say, Gold has an important decision to make around $1620.
Personally, I see a chance for XAU to rise a bit here...