Well, the most important thing about this week is of course a continuation of a bullish rally on Gold.📈
The price rapidly violated the all-time high and went much higher reaching 3000 level.
Technical analysis skeptics should admit how perfectly the 3000 psychological structure started to absorb the market supply, not letting the price go higher. 📈
What will happen next?
Still not clear, 3000 is definitely not a limit but probably just a local pit stop.
While many traders feel happy about the extraordinary Gold rally, the truth that Gold price action has a very strong correlation with negative global events. Though I am not sure what exactly caused this rally on Thursday, something definitely is going on behind the scenes and I think that it is not good.🧐
Have a great weekend, traders!
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.