Takaki Kubiki? Actually the name reads as "Takashi Kagami"? The Japanese text is: 鏑木 高明 『週刊 金相場展望』 2023年4月3日号 Translation: Takaki Kagami 『Weekly Gold Market Outlook』 April 3, 2023 Issue
The report on gold market outlook, written weekly by Takaki Kabutoki, President and CEO of Investment Daily News Corporation and a master of cycle analysis, is presented here.
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Last week, the New York gold price closed at 1,969.0 dollars, down 14.8 dollars from the previous week. The 2,000-dollar level remains a ceiling, but as we noted last week, “...compared with the previous week's high of 106.30 dollars, the gain is smaller, and the major 2,000-dollar level has been tested three times so far, and all were knocked down within the following week. If this week it can again rise to 2,000 dollars and sustain it, it could push gold to a new level. However, if it cannot maintain the weekly closing price, as in the past two times, it would suggest a substantial correction.” If there is a movement this week indicating this possibility, the decline could accelerate.
From a technical perspective, this is a reversal downward in the weekly slow stochastic. Last week it was still rising, but if the %K and %D lines narrow and cross, watch out. Looking back at the two previous reaches of 2,000 dollars, each time a bearish divergence with the preceding high is formed. In 2020 the difference was not large, but at the high in March 2022 a clear gap appeared.
Please see the continuation in the PDF file.
【Takaki Kabutoki — Profile】
Graduated from Kwansei Gakuin University, School of Economics. In 1995, he partnered with the globally renowned U.S. market analyst Raymond Meriman and published Japan’s first market cycle and astrology reports. He is well-regarded for his market analysis using cycles and astrology. President and CEO of Investment Daily News Co., Ltd., President of Investment Daily News Publishing Co., Ltd., Director of Wakabayashi FX Associates, Member of the Japanese Technical Analysts Association, Editor-in-Chief of Investment Daily Alpha.
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