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Prices move higher regardless of the waves of volatility, the pressure is still insane, prices are at oversold levels and are beginning to rise, we can see that in the last week’s results.

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Welcome to My Newsletter family
On with todays topic - Gold, Silver
There has been a lot of fear and greed in terms of trading in the markets especially while trading Gold. Although the price targets have been as near as I have mentioned in my previous newsletters. the way the fear that has played in the markets was tremendous.
Gold prices have bottomed by last week, prices began to rise by this week there was a good buying opportunity for the traders today.
That if they managed to catch the dip they could even hold that position for a longer period of time and get massive returns.
Gold Weekly price chart
Gold Weekly price chart
Based upon the News
You probably might be thinking why am I saying that prices will move further downside while the world is rushing towards buying Gold and silver?. Well, the answer to this question is -
Honestly, it doesn’t matter what others say about the markets it’s all about “why” and why do you think they have said it. This includes me too, If you are reading these Newsletters, and if are using my price Targets to trade, Do you just open positions, or do you really understand the technicalities behind it.
As a trader and a friend, I believe it is my responsibility to make this newsletter as useful and informative as possible.
So if you do not understand How did I make this choice of price as the target, or even if you have any other clarification whether it is about my trading newsletters or even about my Trading itself, you could mail me,
As I said earlier you can join my Growing discord server and there you can find me 24/7 every day.
Getting back to the question
While everyone is bullish on gold, personally I am too bullish on gold. but when I see do my technical analysis I find there is a chance for a bearish pressure for the coming few months and this can be confirmed if this monthly candle closes red - but then even it did close red it is going to end up being a hammer candle. - Still a bullish momentum
But with my waves analysis - on a monthly chart if the candle closes below the blue wave then it is most likely to see more red candles in the future and this is in the monthly - with the last month candle close below the blue wave. - Bearish momentum.
Analysis - As per Current situation.
Conclusion after the analysis, I would say
  • Both the Bullish and Bearish momentum is almost equal at the moment I would say.
  • This might result in more springs in the future = High volatility
  • Might be a very good time to make money for the Day traders
  • For a Swing trader like me, I would recommend waiting for a sweet spot.
If you have read this Newsletter Down to this section then you might wanna subscribe to this if you have already and join my discord community, created for my followers and other traders alike.
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This is newly created so if you are willing to join I would recommend inviting your friends too so that you can make your learning curve more simple and have fun in the process.
Be mindful of the rules though.
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Happy day, Until next time - Bye
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Mithun Suresh

Research and Technical Analysis about the Markets, and help readers attain a healthier and wealthier lifestyle. Subscribe and become part of this Amazing Community, Listen to RealtorRecordsPodcast.

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