GOLD, Major Volatility-Indications, Open-Interest Market!

Hello There!

Welcome to my new analysis about GOLD on several timeframe perspectives. Gold has shown up with an decisive pullback since the highs in May 2023, with this dynamic further assumptions on the direction of GOLD are important. In the recent times expectations for declining CPI- and PPI numbers offer a more positive outlook on a more middle-to-long-term-perspective for assets like gold. Also rising war and economic risks established since March 2022 increased the overall institutional and state treasury open interest in gold and marked the increased volume that established the protracted momentum wave.

Nonetheless on the short-term rising bond prices can trigger a next corrective wave and the technical perspective is indicating a main descending-channel in which is gold just recently completed a local bear-flag to determine further continuations into the wave-count direction to the downside to form the wave C of the main wave-count. It will be important how gold then moves into the final targets at 1800 because in this case such a formation can also invalidate when the bearish momentum is really high.

On the weekly timeframe perspectives it has to be pointed out that gold already emerged with a strong bullish momentum wave which is backed by institutional open interest and offering a strong origin of the bull-flag to actually complete. With the open interest increasing further and gold continuing with a stabilization within the flag-formation a breakout of the bull-flag gets more likely from where the target-zones can be projected pointing out to the 2400 level as a target.

It will be important how the market develops within the next times especially with Gold moving into the bear-flag targets zones within the flag-formation and how the momentum develops in this case to consider further dynamics.

In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.

VP

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GOLD Showed Up With the Bearish Breakouts as Mentioned and Already Moved Below Previous Lows.

Locally Bearish Continuation Indicated, Globally Considering the Dynamics Mentioned.

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ANALYSIS UPDATE: GOLD continued to emerge with the mentioned scenarios and move on with the development of the flag-formation.

Further supports in this zone are likely to mark a major origin for a final breakout and completion of the flag formation.

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NEWS UPDATE: Institutional net-long open interest is increasing further with an continued sentiment that favors a final breakout.

Especially in times of a war affected stagnating economy smart money operators did not decreased their positions and in fact increased volumes in the gold market to hedge against inflationary events.

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ANALYSIS UPDATE: The GOLD price-action has formed further determinations in the legit forming and completion-setup of the whole decisive bull-flag.

Aiming for a final breakout in the next times.

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NEWS UPDATE: A gold-backed currency-system implementation even in a emerging market is setting up the crucial conversion to transform the whole gold market substantially.

Especially, with the consideration of gold-miners, watch here for the whole news and analysis:

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UPDATE: GOLD has re-tested the major support levels, especially within the lower boundary of the flag-formation.

GOLD has increased the smart money open interest demand massively indicating a bullish sentiment.