Guys, is GOLD preparing for another move to the upside? 👀
Last time, when GOLD was trading around $5,000, Bank of America was talking about $6,000. But I was probably one of the few who said that GOLD was overvalued, moving inside a bearish channel, and could dump.
From a proper macroeconomic perspective, I repeatedly called GOLD shorts from around $5,400.
Now the question is: Has GOLD turned bullish according to macroeconomics, or is another correction still coming ?
Right now Gold price is arround 4180$ ,Will GOLD first Pump toward $4,400 and then reach the $3,500 zone, potentially creating a golden opportunity for long-term investors? Or will GOLD break above $4,500 on the weekly timeframe and then take off like a rocket? 🚀
Why am I gradually turning bullish on GOLD ?
That's the question I want to discuss. 👀
$XAU
Last time, when GOLD was trading around $5,000, Bank of America was talking about $6,000. But I was probably one of the few who said that GOLD was overvalued, moving inside a bearish channel, and could dump.
From a proper macroeconomic perspective, I repeatedly called GOLD shorts from around $5,400.
Now the question is: Has GOLD turned bullish according to macroeconomics, or is another correction still coming ?
Right now Gold price is arround 4180$ ,Will GOLD first Pump toward $4,400 and then reach the $3,500 zone, potentially creating a golden opportunity for long-term investors? Or will GOLD break above $4,500 on the weekly timeframe and then take off like a rocket? 🚀
Why am I gradually turning bullish on GOLD ?
That's the question I want to discuss. 👀
$XAU