If you look at the fundamentals, its looking really good. As a hedge against our financial system, gold is in great demand amidst the trade war, us-iran tensions, fed rate cuts (suggesting imminent recession) etc.
Now if you look at the technicals, its also looking really good. We just broke a major long term resistance around 1380. With both TA and fundamentals, I think its highly unlikely for us to see 1380 or anywhere near there for a very long time. There might be a small pullback to 1400 but even that is unlikely in my opinion.
note: I deleted previous chart because i made a small mistake with the fib channel. Also I'm quite new to trading so make trades on your on risk.
Now if you look at the technicals, its also looking really good. We just broke a major long term resistance around 1380. With both TA and fundamentals, I think its highly unlikely for us to see 1380 or anywhere near there for a very long time. There might be a small pullback to 1400 but even that is unlikely in my opinion.
note: I deleted previous chart because i made a small mistake with the fib channel. Also I'm quite new to trading so make trades on your on risk.