Dow-johnson
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Sorry - a downtrend channel has formed!
US President-elect Donald Trump's promise to impose tariffs on imports from Canada, Mexico, and China sparked renewed safe-haven demand for Gold.Meanwhile, Ukraine reported its largest Russian drone attack to date, alongside reports of Russia using a hypersonic missile last week and advancing at its quickest pace since the 2022 invasion. Allegations of North Korean troops being deployed in Ukraine further complicate the situation, while Ukraine's strikes on deep Russian targets using Western-supplied missiles increase the risk of further conflict escalation.Looking ahead, key US economic reports this week include Durable Goods Orders, Initial Jobless Claims, and the Fed’s preferred inflation measure, the Personal Consumption Expenditures (PCE) Price Index.All signs provide strong support for gold's downward trend!
Gold falls in the swing
Gold will eventually fall in this swing range and cannot be recovered.
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