XAUUSD (Gold) Commodity Analysis 25/04/2022
Updated
Fundamental Analysis:
Russia has Pegged the RUB to Gold and The Globalists are Conspiring against their currency and Practically shorting their RUB which may Couse the Price of Gold falls to the lower levels
as of now we can target the Smaller Cycles.
Technical Analysis:
the Price could not break its past ATH and it has already distributed lots of Volume on its Descending trend,
as you can se the price is renege bounding in an Parallels ascending channel .
we have defined the Target using the Fibonacci Retracement level of 61.8 which has the confluences with the lower bound of the ascending parallels channel.
there exists a Resistance area where the Price may not be able to break trough in case of Parabolic Biases and may fall back to the lower levels
Russia has Pegged the RUB to Gold and The Globalists are Conspiring against their currency and Practically shorting their RUB which may Couse the Price of Gold falls to the lower levels
as of now we can target the Smaller Cycles.
Technical Analysis:
the Price could not break its past ATH and it has already distributed lots of Volume on its Descending trend,
as you can se the price is renege bounding in an Parallels ascending channel .
we have defined the Target using the Fibonacci Retracement level of 61.8 which has the confluences with the lower bound of the ascending parallels channel.
there exists a Resistance area where the Price may not be able to break trough in case of Parabolic Biases and may fall back to the lower levels
Trade closed: target reached
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