Gold $2000 comeback in this week!
Back in June, even the naysayers would have privately admitted that they expected gold to hit $2,000 an ounce at some point this year, if not next. What even the bulls didn’t anticipate was it getting there in just a month. That amazing outperformance has now become gold’s bane.
Gold Needs Upside Strength On Charts?
what’s needed for the clawback—is fairly simple: upside strength on the charts.
The second point—what could trigger more downside—is a little more complicated. Gold bulls are being frustrated by the sudden resurgence in U.S. Treasury yields, which until two weeks ago seemed doomed to sink deeper into negative territory, and a rebound in the dollar, which seems to have taken an inexplicable life of its own.
Let’s take a look first at the required upside for gold.
Technicals show that the spot price of gold, which reflects trades in bullion, needs to at least get to around $2000 and hold to that level to move higher.
From there, the challenge will be making the pre-$2,060 leap to $1,990.
Gold Needs Upside Strength On Charts?
what’s needed for the clawback—is fairly simple: upside strength on the charts.
The second point—what could trigger more downside—is a little more complicated. Gold bulls are being frustrated by the sudden resurgence in U.S. Treasury yields, which until two weeks ago seemed doomed to sink deeper into negative territory, and a rebound in the dollar, which seems to have taken an inexplicable life of its own.
Let’s take a look first at the required upside for gold.
Technicals show that the spot price of gold, which reflects trades in bullion, needs to at least get to around $2000 and hold to that level to move higher.
From there, the challenge will be making the pre-$2,060 leap to $1,990.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。