Forex

Gold Remains Bullish, Supported By China StimulusOct 1, 2024

Gold is trading bullish already for a while and we have been talking a lot about that in the past. By recent China stimulus package, we can see Chinese stocks like Hang Seng Index (HSI) in a massive rally and at the same time Chinese yuan is getting stronger as well which is positive for metals. So, ff we respect a positive correlation with gold, seems like gold is going to stay bullish as we see more upside potential on HSI.

Gold Remains Bullish, Supported By China Stimulus CNH vs. HSI vs. GOLD
CNH vs. HSI vs. GOLD

Looking at the 4h time frame; Gold is accelerating higher on China stimulus, and from Elliott wave perspective it’s most likely in wave (3) of an extended wave 5. As long as the price is above 2532 invalidation level, we should be aware of more gains for wave (5) of 5, after current wave (4) correction that can stop at 2620 – 2600 support area; a perfect zone for next bounce. 

Become a premium member

Get daily Elliott Wave updates for SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.

Register and look inside of our members area

Gold Remains Bullish, Supported By China Stimulus XAUUSD(Gold) 4H Chart
XAUUSD(Gold) 4H Chart

Commodity

Gold Remains Bullish, Supported By China Stimulus

Read More

Funded Trader Program

The funded trader program is online trading on a demo account where traders can prove their trading skills on different account size. If they are successful based on specific rules then traders will be funded on a real trading account and make money from the profits.

Read More

Learn Elliott Waves

Video lessons about the Elliott Wave theory. Access to more than 7 hours of educational material

Read More

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close