Ukraine tension as Russia responds with Ballistic Missile
This week, we’ve seen Ukraine and Russia conflict step up with both sides now firing mid-long range missiles into each others territory. The most recent missile launch from Russia was described as ‘nuclear capable’, designed to clearly show Ukraine that Russia will retaliate with equal or stronger force. This week’s missile launches are resultant from the UK and US lifting restrictions on firing into Russian territory. Restrictions were in place to minimise retaliatory conflict on a larger scale. Discussions around nuclear weapon use is also now coming to the fore.
Gold has steadily crept up following this news from Ukraine. As more news unfolds from the region, we’d expect both gold and silver to to rise as investors move to risk-off assets.
Enjoy today’s forecasts.
Gold daily chart, with 200MDA
Silver daily chart, with 200MDA
US500, with 200MDA
ASX200, with 200MDA
Gold Futures Technical Analysis
Gold Futures monthly analysis continues to recommend a STRONG BUY with Weekly analysis a Neutral signal.
Technical indicators – Monthly Projections
| RSI(14) | Buy |
| STOCH(9,6) | Buy |
| STOCHRSI(14) | Sell |
| MACD(12,26) | Buy |
| ADX(14) | Buy |
| Williams %R | Buy |
| CCI(14) | Neutral |
| ATR(14) | Less Volatility |
| Highs/Lows(14) | Buy |
| Ultimate Oscillator | Buy |
| ROC | Buy |
| Bull/Bear Power(13) | Sell |
Summary for Monthly forecast: Strong Buy
*Not financial advice, please DYOR prior to any investment decisions you make.
