Looking at the chart, we find that the natural scenario that gold may follow is a drop following the descending price channel over the medium term.
But the presence of prices near the upper boundary of the channel, in light of important economic and political influences, makes us wait. There are strong political tensions that may turn into a major war, coinciding with the approaching recognition of recession by major banks and institutions. The crazy scenario of the yellow metal has become a strong possibility.
Stability at the highest levels of 1794 will be an initial indication of the breach of the descending price channel, and focusing on the top of the channel may push prices to rise again to 1920 levels.
But the presence of prices near the upper boundary of the channel, in light of important economic and political influences, makes us wait. There are strong political tensions that may turn into a major war, coinciding with the approaching recognition of recession by major banks and institutions. The crazy scenario of the yellow metal has become a strong possibility.
Stability at the highest levels of 1794 will be an initial indication of the breach of the descending price channel, and focusing on the top of the channel may push prices to rise again to 1920 levels.