XAUUSD: Monthly trend turned bullish
This is the Dollar chart for Gold, it shows a bullish trend is flashing in the monthly timeframe now, when recently quarterly had confirmed a bullish long term trend (before price retested the level where it had been accumulated at).💡
I suggested to hold exposure to gold in the order of 20 to 25% of your portfolio, in the form of ETFs or OTC CFDs, or physical if that's your cup of tea. This applies to investors who think in USD terms as well, as both charts are trending up here.📈
Upside target for the monthly timeframe is 2211 per ounce, but if we get a similar move to the one that Gold formed in the prior bullish trend, we could see it rise to 2800 to 3000 per ounce!🚀💰
Best of luck if you take the trade.🤝
Cheers,
Ivan Labrie.
I suggested to hold exposure to gold in the order of 20 to 25% of your portfolio, in the form of ETFs or OTC CFDs, or physical if that's your cup of tea. This applies to investors who think in USD terms as well, as both charts are trending up here.📈
Upside target for the monthly timeframe is 2211 per ounce, but if we get a similar move to the one that Gold formed in the prior bullish trend, we could see it rise to 2800 to 3000 per ounce!🚀💰
Best of luck if you take the trade.🤝
Cheers,
Ivan Labrie.
Continuation here...