Xkuda Takaki? Actually the Japanese name reads: "鏑木 高明" which is "Takamitsu Kabuki"? Wait. Better: The text inside is: 鏑木 高明 『週刊 金相場展望』 2022年7月25日号 Translation: Tsunematsu Takao? No. Please note: The proper rendering of Japanese names may vary. The kan
Takaki Kabutogi, the CEO of Investment Daily, a master of cycle analysis, is the author of the weekly金相場展望 (gold market outlook) report.
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Last week's New York gold market (near month) touched 1,678.4 dollars on the 21st (Thursday), the lowest since 1,676.4 dollars on August 9 last year, but closed the week at 1,727.4 dollars. The low last week was our long-standing downside target (the August low last year), and having nearly reached it, this week is expected to be a week to confirm the bottom. However, this support has been tested three times before (March 7, 2021; March 28, 2021; August 9, 2021, all near-month at 1,673.3, 1,676.5, 1,676.4 dollars respectively), making this the fourth test. In terms of wave theory, if the support is broken at the closing price, it could trigger a further sharp decline, so this week deserves close attention. However, if after the break prices immediately recover and close with a bullish weekly candle, it would become another strong bullish trigger, potentially stronger.
This week, the focal point will be the FOMC meeting on the 26–27. According to CME Group’s FedWatch, as of the 22nd, the market is pricing in more than 80% odds of a 0.75% rate hike. Moreover, with many economic indicators and corporate earnings reports around the U.S. and Europe, if these data point to increased recession risks, it will cast doubt on continued rate hikes after September, and interest rates may fall. In fact, the recent rebound in gold at the end of last week was said to reflect a higher appeal for gold as long-term yields, such as the 10-year U.S. Treasury yield, declined, and the dollar index fell.
Please see the PDF file for the continuation.
【Takaki Kabutogi – Profile】
Graduated from Kansai Gaidai University, Faculty of Economics. In 1995, he partnered with the world-renowned U.S. market analyst, Raymond Merriman, and issued Japan's first stock market cycle and astrology reports. He is known for market analysis utilizing cycles and astrology. CEO of Investment Daily, Inc.; CEO of Investment Daily Publishing Co., Ltd.; Director of Wakabayashi FX Associates Co., Ltd.; Member of the Japan Technical Analysts Association; Editor-in-chief of Investment Daily α.
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