In this scenario gold is continuing its recovery, with prices in area $1,430, with the 4h chart showing a slow but steady recovery, as investors are betting on a dovish Fed with 2 (or even 3, if necessary) rate cuts in 2019. If expectations are confirmed, the first target will be $1,450, while in the medium-term bullion would might recover to the key resistance area of $1,500/1,530, where it started the big fall in April 2013.
Chief analyst at ActivTrades and technical analyst for Italian newspaper 'La Stampa'. Carlo Alberto provides regular commentary for UK outlets including the BBC, Telegraph, the Independent Bloomberg & Reuters. He is also a weekly commentator for CNBC Italy and a columnist for La Stampa. He worked for Bloomberg as their Equity Research Fundamental Analyst before joining brokerage ActivTrades in 2011 to specialize in currency markets and commodities. In 2014 he published a 250-pages book on gold and the gold market, followed in 2018 by a new updated edition.
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© 2019 High Leverage FX - All Rights Reserved.