Gold Weekly Price Analysis – August 29 The break up at $1,984 resistance level may increase the price to $2,020 which may eventually increase to the previous high at $2,074. In case the price is rejected at $1,984, there could be a breakout at $1,935 level, and the price decrease to $1,901 and $1,871.
It's not a rejection, it's a distribution to square the imbalance between USD and XAU. Once it's done in about 1-2 trading days, XAU will continue the upward trend to break recent high of 2075.14 (XAUUSD, not gold futures)
and btw, there is nothing much investors/traders (speculators) can do except divert their portfolio into gold-related stocks in Malaysia. Because if you put your hard-earned cash into KLCI put warrant and hoping it will gain value when the index goes down, you are burning your cash. It's not even meant for intraday, just a crocodile pit to lure those who thought they are smarter than average traders. You won't be able to find your bones if you stay with that warrant for too long.
Gold price in very good level now, USD1972...... last week running between 1920 - 1940, NICE fetch price around 0.28 to 0.30. If today gold can sustain at 1970 level or move upward, NICE will be delicious then.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
cicakman
7,800 posts
Posted by cicakman > 2020-08-29 20:50 | Report Abuse
Where is all Gold Traders?
Coming will be 2100