RamziAbouAbdallah-CMT

• Triple top formation putting pressure on the yellow metal prices • Adding to the bearish picture is the break below the ascending trend line that has been in effect since November 2022 • Bears are in control and target the 1900 support level which if broken exposes the next major level of 1800 • This decline can also be interpreted as a correction of the latest 1800-2070 rally as we are still trading above the 61.8% level at 1900

• Gold is highly benefitting from the fear and uncertainty in the market which is likely to persist • Markets are again assuming a recession coming • Banking sector latest dilemma is adding to the fear sentiment • Rising interest rates, hard landing caused by FED continuous tightening policy along with signs of stagflation all add to the bullish price action seen in the commodities markets • Added the VIX (volatility/fear index) below Gold chart to try and visualize any correlation between them • Interesting to see that peaks in VIX index were usually accompanied by peaks and rallies with the Gold • As we are approaching the all time high at 2070 with price currently just above 2000 I would like to add my own interpretation on that • When Gold traded at 2070, VIX value was around 33 • We are only just above 2000 and the VIX is way lower than the previous higher level • If current factors and sentiment persist in the market, we might see the VIX trading back towards higher levels, sending the Gold way higher than 2070 • Note that VIX is up almost 11% in a single day at the time of writing Traders, if you like this idea please comment and like ✅ Here to answer all your questions, Good luck

• Ethereum is suffering from the overall crypto market correction • After hitting the upper trend line of the broad ascending channel, price reversed and broke through the middle line as well indicating increasing selling pressure • Price found some support at the lower bound of the channel • Bulls will try to keep the price from breaking the channel even if they are not yet able to break through the middle line again • Bears will gather their strength at a higher price and will try to break the channel • There is no significant support below current level until 1380, which is the bears main target • If bulls manage to defend the channel support and the market gains some momentum, they will aim to re-test the upper bound of the channel and make a new yearly high • A break of the channel exposes 1380 and gives the bears the upper hand, weakening the bullish trend significantly

• Recent decline in the Gold seen as corrective rather than trend reversal • Major trend still up, reinforced by the ascending trend line since Nov 22 • Also we have an ascending parallel channel, also intact • Bulls will try to defend the channel support line, today at 1977 (very close to today's low) • Gold moves according to overall sentiment and is negatively correlated to the US Dollar • As the USD has been rallying for the last 2 sessions, this resulted in the Gold trading back below but close to 2000 • Till now, declines are seen as buying opportunities in my opinion and chances are we are going to see the previous high at 2070 re-tested before seeing any major trend reversal

• Long term descending channel was broken back in March • We had several breakouts before that were proven to be fake, is this one going to be a long lasting one ? Or it is just another fake breakout that is going to fade and trade back into the descending channel ? • We have a bullish crossover between the 50 and 200 Moving Averages • We have a symmetrical triangle breakout, which targets a 1200$ move as per the measurement method • Breakout point: 1700 + 1200 = 2900$ • Next resistance is 2170 followed by 2300 and 3300

• November 21- November 22 descending trend line was already broken and turned from resistance into support • Back in March we can see a bullish crossover between the 200 and 50 Moving Average, a bullish signal and they are both pointing upwards • Since Jan 23, we are trading inside an ascending channel and prices are spending more time in the upper limit of this channel, which means bulls are dominating and keep pushing prices higher. • Next resistance is 33000 and 34500, bulls need to overtake those 2 levels to keep the rally healthy and intact

• Highlighting some triple tops and triple bottoms on the gold • Highlighting how the 1955 resistance became support now • Trend is bullish but I would be cautious on this level as we are approaching a critical resistance at 2070 • Potential triple top at 2070

• Trend neutral to bullish • Bulls need to be cautious around current levels as we got contradicting signals • While prices are printing new highs, MACD is not so probable negative divergence • MACD histogram declining, which negates the bullish picture • 2000 psychological level tough barrier , bulls still not able to break it for 3 consecutive weeks, signaling lack of conviction • From a risk reward perspective, it is more appealing to go short at this level with a close stop targeting Fibonacci retracement levels, the 38.2% and 50% at 1933 and 1900 respectively explained below • Short at: 1990 SL: 2010 (previous high) - TP: 1930 and 1900 - Risk/reward: 3:1 Good Luck

• Gold is soaring as demand for safe haven is rising amid banks turmoil and fear of recession • Bullish trend dominating but tough resistance is near • First resistance is 2000 round number • Second resistance is the 2070 previous high which was rejected twice • Are we gonna be in a triple top scenario and reverse lower again or make a new high ?• From a risk reward point of view, it is more rewarding to go short at this level with a stop above 2000-2070 and place a long pending order above 2070

• Symmetrical triangle breakout on daily chart• Breakout is successful since we had consecutive daily closes above it • Market is trading above the 200 MA , adding to the bullish picture• Breakout target is the height of the triangle (1270) added to the breakout point• Target is around 2700