Hello traders!
Gold had a significant volatility last week. It can be observed that with the Federal Reserve's tightening cycle coming to an end, the resistance that monetary policy has exerted on gold throughout most of 2023 is beginning to weaken, creating opportunities for the market to continue its breakout.
As predicted earlier by Nolan, gold has indeed broken out of the downtrend channel with a breakthrough at $1915. Therefore, the price increase has been established, and in this case, my target will be a new high at $1980 and a long-term target at $2050.
Gold had a significant volatility last week. It can be observed that with the Federal Reserve's tightening cycle coming to an end, the resistance that monetary policy has exerted on gold throughout most of 2023 is beginning to weaken, creating opportunities for the market to continue its breakout.
As predicted earlier by Nolan, gold has indeed broken out of the downtrend channel with a breakthrough at $1915. Therefore, the price increase has been established, and in this case, my target will be a new high at $1980 and a long-term target at $2050.
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