After breaking north of the $2,000 mark back in August
the yellow metal has been moving correctively back down ever since
and is now approaching an area of strong confluence in the form of:
-ascending trendline going back to 2019
-61.8 retrace
-historical horizontal support / resistance
-flag support
With the fundamental backdrop of no end to money-printing in sight, both domestically in the US and abroad
it seems we have conditions ripe for the precious metal to re-engage in the next wave to the upside.
the yellow metal has been moving correctively back down ever since
and is now approaching an area of strong confluence in the form of:
-ascending trendline going back to 2019
-61.8 retrace
-historical horizontal support / resistance
-flag support
With the fundamental backdrop of no end to money-printing in sight, both domestically in the US and abroad
it seems we have conditions ripe for the precious metal to re-engage in the next wave to the upside.