Weekly Gold chart is super-positioned for cont. strength!

https://www.tradingview.com/x/pNh0Cbm4/

This chart I have displaying is the Weekly for XAUUSD, notice this is not overbought, in fact that's a nice cross up on a handy weekly chart.

It's the same on the daily chart for gold and consider a look for long postions on XAUAUD & XAUGBP which are also a great Buy at the moment due to momentum swings to support higher prices and this is also despite them being underbought currently.

交易進行

The good thing about some profit taking and or Gold's regular liquidity requirements between buying and selling at market , despite the Gold price at least gaining traction and quickly moving back over 2800 before settling just shy of the whole number, with it so close now to 3000, on Monday look for the Gold price make a move ever so sightly lower and I think 2762 - 2773 is the best bone that could be handed out, 2783 seems more plausible as a low and by Tuesday price could be back testing yesterday's highs again.

FOMC interest rate 1 only a few months ago had a similar experience as yesterday where the Gold price took a shakeout dive and as I recall the Gold price broke out with vengeance the next trading day.

Cryptocurrency's seemingly weak and nervous price action sometimes, this has much more to do with a generational bias, what I would describe as a 'Stigma' that definitely won't be evident in the future generations', whom won't be confused by it but embrace Bitcoin and cryptocurrency and during those future years will see in its exponential growth. But in the meantime, I see Cryptocurrency's prices steadily increasing as they will be supported by the 24 Trillion-dollar Market-cap Gold price as it heads to 3000 in weeks rather than months.

註釋

I won't be too eager for price to immediately move higher Monday.

Why?

There is a double top to consider and currently exist from the 6Hr chart right up to a weekly chart.