Gold has been in major consolidation for over 500 days creating a symmetrical triangle. This is typically a continuation pattern after a bullish uptrend. It has broken bullish out of the triangle and ran into the next zone of resistance at 1910. I am expecting a slight pullback here to 1835-1870 before hopefully moving further north. It needs to break that 1910 resistance to continue its bullish momentum towards the 1950 resistance zone. Major support is at 1680.
Gold has run back towards heavy resistance around $1,950 retracing 50% of its gains from the March to May rally. During last week we saw gold analysts relax targets as the US upwardly revised economic growth forecasts to 1.3% annualised. The economic growth...
Bitcoin has closed lower for the week, residing at US$27,337 down just under US$1k at the time of reporting. The world’s biggest cryptocurrency has been experiencing network congestion and upward pressure on transaction costs due to the popularity of Bitcoin Ordinals...
Gold has run back towards last week’s highs of $2,050, breaking its resistance of $2,020 as mentioned in the previous report. Gold is currently hovering around the $2,050 resistance at $2,040 - well positioned for a run. If Gold can push through...
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