🤯 Gold may just go straight to $3500 in the next few hours #6
🤯 Gold may just go straight to $3500 in the next few hours
Look at this 15-minute timeframe momentum ⬇️
soooo… new gold ATH next week?
look at gold's price chart with weekly candles - it's unbelievable 🤯
gold is going up like a risky asset - but it in fact is a reflection of risk
now it looks like a breakout from another consolidation phase 📈
all eyes on gold futures 👀
COMEX gold futures trading open in 13h
markets are closed now, but blockchain never sleeps
on-chain gold-backed token futures may give you a heads-up - they're up ≈1.3% from yesterday
interesting to see gold moves after open
spoiler: higher price
gold's behavior during the current 'bullrun' has been consistently to flip previous week's resistance to new support
in the chart - the green vertical lines are weekly levels
gold's current price action suggests it's flipping another resistance for support
Road to $3500 🚀
🚀 you can already feel a new ATH for gold
the loading screen is at 96%
[🟩🟩🟩🟩🟩🟩🟩🟩🟩🟩🟩⬛] 96%
and it won't stop there
price action is showing immaculate breakout vibes 🤩⬇️
gold is currently the only asset whose leveraged long position can be hedged by adding more to the long on pullbacks 😄
* one of the only - and ofc technically that's not a hedge - but you can read my previous posts to understand what I mean
substance over matter 😉
consider this gold pullback as a free gift to further extend your long position 🥳
gold price is back up to its price 2 weeks ago
so it indeed was a good idea to long it at the pullback
🚀 gold approaching $3400. $3300 was a good price for longs - like I wrote a week ago
currently gold is one of the only assets where leverage entails a much lesser risk
upside price pressure is coming from several points
gold back to $3400 - trend lines & channels on the chart
you can see where it's headed next 😄
🚀 gold futures NEW all time high above $3500
futures price is usually above spot. today's increase was caused by tariffs on gold used in COMEX & CME. i wrote a thread about that today
i will keep this thread active at least until the spot price reaches a new ATH 😄
gold tariffs put further upside pressure for gold towards a new all time high on spot
this is in addition to the global monetary, geopolitical and fiscal positive price pressures
a significant part of the markets will be closed for the weekend. there could be a gap on reopen
this just adds further validity towards the consolidation before further upside for gold
i've shared these gold charts since the beginning, while incorporating new trends as they emerge
the price action has supported this throughout. notice the strong multi-trend support
new all time high for gold is near 😄
you can see how accurately gold price has been respecting the trend lines and channels you've seen in my graphs for months now 😄
gold tariffs ping-pong introduced volatility, but like i wrote in my other posts - its upside price pressure
a new all time-high will arrive
on a weekly timeframe a stronger future support is developing for gold within the red box
it's a part of a multi-month uptrend
