Every time gold goes down, i hear people crying about manipulation. But never do I hear this bleating when gold is going up! LOL
Well here is a look at the gold prices from a FIB perspective. Go forth, trade and make monies. (Then turn it into physical gold, real estate and cryptos!)
Markets go up and down and always respect their fibs! I've been in JDST since 1300$. I'll take profits when we hit the lower Fib. From there, watch for price action signals bullish or bearish.
I expect a bullish candlestick either on the day of the FOMC or the weekly candle, because this is what has happened the last few raises. The raise is already priced in on the interest rate markets, so it should almost definitely happen.
With that said, keep in mind: interest rate increases INCREASE the price of borrowing US dollars, thus lowering the exchange rate as demand decreases. The pundits have it backwards because the Fed has trained them this way, or the Fed is just that dumb and has no idea what they actually control. AKA interest rates are price controls. Rates go up, prices go up.... aka inflation goes up.... aka commodities go up!
Thanks for reading. Please like and comment! Go make money!
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