Felt the need to update.
Despite a Strong JOLTs data, Gold has still managed to Give a Closing
1. Outside of the Downtrend Line
2.Very much close to The Uptrend line that it had broken recently.
This could be owing to the Increasing Tensions in the Middle East Being priced in.
Now Fomc could decide the final direction of the Trend.
Going by the data released since last FOMC.
Higher for longer narrative could continue, with economy being resilient.
And again as usual fed will be data dependent.
So expect, may be a dip till 2015 and a bounce towards 2080 or directly without any Pullback 2080 being tested.
unless gold breaks 2015.
Despite a Strong JOLTs data, Gold has still managed to Give a Closing
1. Outside of the Downtrend Line
2.Very much close to The Uptrend line that it had broken recently.
This could be owing to the Increasing Tensions in the Middle East Being priced in.
Now Fomc could decide the final direction of the Trend.
Going by the data released since last FOMC.
Higher for longer narrative could continue, with economy being resilient.
And again as usual fed will be data dependent.
So expect, may be a dip till 2015 and a bounce towards 2080 or directly without any Pullback 2080 being tested.
unless gold breaks 2015.
