Clear signs that gold is about to decline and correct… Gold is reaching a peak | Investing.com

Everyone is asking… where does he go?

This is the most obvious and important question, so I have the complete answer and technical proofs

We will examine gold from two sides: “the economic, fundamental and political side and the technical side related to price behavior.”

Economic and political aspect:
There is no doubt that the reason behind the rise of gold is several factors, and I will mention them in points:

• – Fear of increasing geopolitical tensions between the Zionist occupation force and Gaza The markets may have started to be optimistic about a truce and an end to the fighting and the war on Gaza, which the demand for gold as a safe haven will decrease in Gaza. against geopolitical tensions.
• – Fear of a strong economic recession that is deeper than a recession These fears may have disappeared after the Progress, after data that shows that the American economy is still strong.
• But don’t forget
  – Release of very important data for the American economy, represented by the commercial and industrial purchasing managers’ index and services
  – In addition to following the speech of Jerome Powell, “Governor of the US Federal Reserve”, in which we will be looking for any comments regarding the economic data released as well as any announcements about the future path of monetary policy. time
• – Weakness in the US, as inflation numbers were issued, which actually slowed less than expected, because the numbers showed that inflation reached 2.9% in the United States, so it helped to weaken the dollar, because this is a confirmation that the Federal Reserve is going to reduce interest rates, which increases the weakness of the dollar and contributes to its rise Gold with geopolitical tension

But
With fears of ever-increasing geopolitical tensions and disappearing fears of an economic downturn, this will give rise to the rise of risky assets such as stock markets and markets with resistance to gold, and this is which determines price behavior. of gold

Technical side:
Perhaps the most important thing that confirms that its current prices represent the maximum level of increases and that they are areas where it is very appropriate for gold to start a correction is that the indicator MACD is one of the most important indicators that shows that we. we reached the maximum level of buying and that we are in areas where there could be a reversal if we face the remaining targets for gold at the levels of 2530 around a dollar per ounce, and the confirmation came from the completion of the harmonic model AB = CD For more details, I have sent you an integrated analysis of futures contracts and spot prices for gold.

Please accept my best wishes
D. Muhammad al-Ghobari
Head of the Economic Academy
Investment and wealth management consultant
Instagram: @drmelghobary