Looking at Gold on a Monthly & Weekly chart at this present moment evidence from Price Action points higher.
The key reasons are as follows;
1 Respected Weekly Structure - The attempt to break a previous high from May/June 2021 has been unsuccessful.
2. Respected Fib Level 38% - Gold also demonstrated the ability to respect Fib Level 38% and push higher
3. MACRO News - Last week you may have noted PPI data was 11.2% this is the highest ever recorded!
We also have a daily rising trend line - so long as this is respected, I remain bullish.
Good Luck
The key reasons are as follows;
1 Respected Weekly Structure - The attempt to break a previous high from May/June 2021 has been unsuccessful.
2. Respected Fib Level 38% - Gold also demonstrated the ability to respect Fib Level 38% and push higher
3. MACRO News - Last week you may have noted PPI data was 11.2% this is the highest ever recorded!
We also have a daily rising trend line - so long as this is respected, I remain bullish.
Good Luck