investors looking for safe store of value amid inflation duress
Gold prices made an intraday bearish reversal , reaching high @ 1966.206 before making the bearish turnaround.
a possible increase in xauusd prices is expected as due to geopolitical factors of investors looking for a safe store of value against rising inflation pressures caused by spiral of commodity prices due to the Russia - Ukraine invasion.
The anticipated peace talks between the respective nations are to be held this week , if successful we might witness a decline in gold prices , but with the invasion ongoing the precious metal market remains in a lot of bullish duress.
on my chart price is giving third touch on bullish trendline indicating a possible shift in momentum from bearish to bullish with extra confluence of price reacting too daily demand of proximal price @ 1927.180 which I see as the catalyst for the bull run. I have longs @ 1929.250 with stops 72 pips from entry price and targets at monthly supply @ 1967.646 giving a risk , reward of 1:5.
this is only the beginning , what's coming next really something else.
a possible increase in xauusd prices is expected as due to geopolitical factors of investors looking for a safe store of value against rising inflation pressures caused by spiral of commodity prices due to the Russia - Ukraine invasion.
The anticipated peace talks between the respective nations are to be held this week , if successful we might witness a decline in gold prices , but with the invasion ongoing the precious metal market remains in a lot of bullish duress.
on my chart price is giving third touch on bullish trendline indicating a possible shift in momentum from bearish to bullish with extra confluence of price reacting too daily demand of proximal price @ 1927.180 which I see as the catalyst for the bull run. I have longs @ 1929.250 with stops 72 pips from entry price and targets at monthly supply @ 1967.646 giving a risk , reward of 1:5.
this is only the beginning , what's coming next really something else.