$XAU = $Gold : Weekly Analysis = 03.09.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing

Gold closed the week on a very optimistic note and we should see some higher prices next week. Let’s test the hypothesis from the different perspectives.


As I anticipated, gold completed today a Rising 3 Methods on 6 candles. This formation came right after a 5-day bullish Mat Hold continuation pattern. Very powerful and we should see some higher prices next week.
The price climbed again above 200 MA and we should probably see a confirmation in the next few days.
The daily indicators started to support a rally, but they are still somewhat unusual for a long-term rally.
Odds: Bullish

Gold seems to have a good support on the daily frame, but I am not convinced of a comparable one on the weekly and monthly charts. Do you remember the level of $1880 and its role?

If you would like to continue reading about the concerning points on weekly and monthly frames, as well as learn about the long- and short-term forecasts by Elliott Waves, possible targets and timing, please subscribe.

The following chapters are Premium Content that is available for the subscribers only. For only $10 USD per month, the subscription gets you access to the monthly and weekly analyses, long term forecasts on cryptocurrencies, precious metals, oil, major US indices, DXY, and more.
There is no free trial. For $10 USD you can evaluate the service for a month and cancel it any time.

Premium Content

Read more of this content when you subscribe today.

If you want to know what is ahead, not behind, follow the blog on Twitter @InvestingAngles or, if you want all posts in your inbox, by email subscription.

Previous Monthly Analysis:

%d bloggers like this: