hey guys how are you all doing? Gold and Silver are trending higher but i think this bullish trend will not gain momentum. The chart price action at H4 looks like a good bull trap with possible reversal at $26.7 as shown in the ABCD pattern. But like all things in the market, this isn't set in stone.
FA wise, the inflation rates in the US, although high, are not near high enough.
Gold may track lower to $164x, which is coincidentally the .50 Fib of the recent lowest to the highest price rally ($2000). But Long term im bullish on precious metals.
As always, practice proper risk management and Safe trades
FA wise, the inflation rates in the US, although high, are not near high enough.
Gold may track lower to $164x, which is coincidentally the .50 Fib of the recent lowest to the highest price rally ($2000). But Long term im bullish on precious metals.
As always, practice proper risk management and Safe trades