Is gold predictable now, at all? Let's consider some facts and observations.
GOLD: bearish 'High Wave' pattern
Information is not investment advice
There're bearish patterns such a 'High Wave' and a 'Tower', which both have been confirmed, so the price is declining. In this case, it's likely that the market is going to test the next support at 1263.60 in the coming days. If a pullback from this level happens next, bulls will probably try to reach the closest resistance at 1283.62.
Gold has been losing value lately. But recently, it is back up. Is it a good time to buy?
S&P falling this much, this stock falling that much... Not all the stocks are like this! Some of them keep standing and defying the virus damage.
These days the US dollar has a lock on everyone’s attention. However, there are some interesting cross-currency movements that you can gain from.
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
S&P was looking upwards just a day ago. Something changed?