This chart displays Gold (XAUUSD) along with the United States Inflation Rate (orange). The recent developments both geopolitically (Ukraine conflict) but more importantly macro-economically (inflation soaring), have put Gold back on track to its long-term bullish trend ever since it broke free of its 2012 - 2019 Bear Cycle.
As the Inflation Rate shows, we are at the stage of the first major spike (ellipse pattern), which during the past 2 Gold Cycles was seen half-way through the long-term rally (small circles).
In the previous Cycle, Gold peaked on its 1.618 Fibonacci retracement level from its prior All Time High. This Fib is currently at $2785. There's the target for long-term investors.
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As the Inflation Rate shows, we are at the stage of the first major spike (ellipse pattern), which during the past 2 Gold Cycles was seen half-way through the long-term rally (small circles).
In the previous Cycle, Gold peaked on its 1.618 Fibonacci retracement level from its prior All Time High. This Fib is currently at $2785. There's the target for long-term investors.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.