Yataki, Takaaki “Weekly Gold Price Outlook” May 1, 2023 issue

Mr. Takao Kabuki, the President and CEO of Kabushiki Kaisha Investment Daily, and a master of cycle analysis, writes this weekly report on gold market outlook.

This is the gold market outlook report authored weekly by Takao Kabuki.

-----------------------------------------------------------------------------------

Last week’s New York gold market ( nearby contract ) closed at $1,999.10, up $8.60 from the previous week, and the market continued to stay below the $2,000 level, as it did the previous week. While the high did not reach $2,020.20 ( vs. $2,028.00 last week ), the low rose to $1,982.00, $1.10 higher than last week’s $1,980.90. Although concerns about a triple top remain, a collapse has not occurred. It has been a theme of interest for two weeks, but it is not yet clear. In other words, are we blocked by a resistance line drawn from the double tops of August 2020 and March 2022, forming a triple top, or will we break above it, set a new all-time high, and continue to rise? We are entering a period to watch closely.

Previously, when a double top occurred (March 8, 2022 at $2,078.80), the market traded in the high range for about six weeks afterward, and in particular, in the sixth week it recovered to $2,000 for the first time in about a month, but then “THE END” occurred there. On a weekly basis, Stochastics had formed a secondary top in February 2022 and continued to fall, reaching a secondary bottom in October.

To read more, please refer to the PDF file.

【Takao Kabuki Profile】

Graduate of Kansai Gakuin University, Faculty of Economics. In 1995, he partnered with the world-renowned U.S. market analyst, Raymond Meriman, and issued Japan’s first market cycle and astrology report. He is well regarded for market analysis using cycles and astrology. President and CEO of Investment Daily, Ltd., President and CEO of Investment Daily Publishing Co., Ltd., Director of Wakabayashi FX Associates, Member of the Japanese Technical Analysts Association, Editor-in-Chief of Investment Daily α.

＊ Please make your own judgment when investing as the final responsibility lies with you.

＊ Copying or distributing this report without permission is a contract breach. If such breach is discovered, legal action may be taken, and even within the subscription period, distribution may be terminated. We appreciate your understanding and cooperation.

＊ This report does not guarantee the accuracy of future outlooks or profitability. Traders and readers of the report should trade at their own risk. Neither the author of this report nor the publisher bears any responsibility for the decisions of participants in the market. Regardless of the asset, physical, futures, or options trading are considered to involve high risk.