The Graph presents DXY/GOLD = Inverse price of gold. Given Fibonacci levels have acted as great resistance/support lines, therefore might predict the next bull-run for gold. DXY/Gold is retesting its 2.414 Fibonacci resistance to break down; which is a bullish signal for gold.
Fundamentally (refer to main graph)
- Gold is a great inflation hedge
- Currently massively undervalued
- Falling returns or/and outlook on substitute investmentment instruments
Technically (these 2 graphs)
- Previous retests from Fib levels have shown a 100% accuracy on the 6M timeframe
(breakouts represented by red circules and current by the blue circule)
- The diagonal blue resistance line (which rejected 100% breakouts) has been reached with a significant rebound below the fib level.
- The MA is extremely close to both the FIB and blue line resistance levels.
Fun fact: These fib levels have been determined through price history between the years 1969-1976.
1M timeframe:
1W timeframe:
Thanks for your time!
Fundamentally (refer to main graph)
- Gold is a great inflation hedge
- Currently massively undervalued
- Falling returns or/and outlook on substitute investmentment instruments
Technically (these 2 graphs)
- Previous retests from Fib levels have shown a 100% accuracy on the 6M timeframe
(breakouts represented by red circules and current by the blue circule)
- The diagonal blue resistance line (which rejected 100% breakouts) has been reached with a significant rebound below the fib level.
- The MA is extremely close to both the FIB and blue line resistance levels.
Fun fact: These fib levels have been determined through price history between the years 1969-1976.
1M timeframe:
1W timeframe:
Thanks for your time!
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