XAUUSD : GOLD The Sweet Spot to BUY GOLD!
In 2001, France put an end to its national currency, the French Francs, to adopt the European common currency, which unfortunately became a single currency. (6.55957 FRF = 1 Euro)
Is it a coincidence that during the same year, in March 2001, the OR stopped its long-term downward trend for an exponential upward trend with many bullish excesses? As if gold was overbought?
In 2011, gold hit a powerful resistance against which it bumped 4 times, dropping until 2016, touching an upside historic channel support.
Today, in 2020, not only are we dangerously close to this same powerful historical resistance, but the price of gold touches 50% of the bullish channel.
In my opinion, Gold will fall in 2020 ... even until 2021 ...
The best time to buy ahead then in 2021, when the gold price will hit its historic bullish channel support.
In 2022, in France, there will be presidential elections, so we will risk having a rise in Gold.
Is it a coincidence that during the same year, in March 2001, the OR stopped its long-term downward trend for an exponential upward trend with many bullish excesses? As if gold was overbought?
In 2011, gold hit a powerful resistance against which it bumped 4 times, dropping until 2016, touching an upside historic channel support.
Today, in 2020, not only are we dangerously close to this same powerful historical resistance, but the price of gold touches 50% of the bullish channel.
In my opinion, Gold will fall in 2020 ... even until 2021 ...
The best time to buy ahead then in 2021, when the gold price will hit its historic bullish channel support.
In 2022, in France, there will be presidential elections, so we will risk having a rise in Gold.
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