Gold (GLDRUB) – benefits from increasing uncertainty
"Bloomberg: NATO proposed spending 4% of GDP on defense because of Russia and China"
"Minsk and Ankara will suspend participation in the arms treaty in Europe"
The increase in military tension in the world increases the risks of balancing the budgets of countries. Military tensions may prompt countries to increase spending through emissions, which will push gold prices up.
TAKE PROFIT
Since July 2022, GLDRUB has been in a growing trend that tends to accelerate growth. The RSI oscillator signals purchases. We believe that the target of the movement is the level of 7,900 rubles, which is +11% of the price of 7,100 rubles and + 33% of the price of 5,910 (see the forecast of 02/21/24 for which the goal has been achieved, but we continue to hold the position due to the emergence of new factors).
STOP LOSS
Do not forget about risk management and portfolio diversification. The idea is a continuation of the previously voiced idea for this tool, which was not closed when the goal was achieved. The stop loss and cancellation scenario can be increased.
If the price is fixed below 6,500 rubles, then the growth forecast of the pair is canceled.
A stop order[1] can be placed at the level of 6,600 rubles (-7% of the price of 7,100 rubles).
[1] Risk management includes: setting a certain type of stop loss at certain levels, a position set method, a position reduction method, holding certain timings for decision-making and is of an individual nature, based on your personal risk profile. If you have any questions, you can contact our trader for advice (Portfolio Consultant package at the link https://eraperemen.info/priobresti/).
Disclamer. The analytics presented here are designed for people who have at least a basic understanding of the Russian financial market. If you have difficulties with the practical implementation of our recommendations, you can use the services of our specialists with the Portfolio Consultant package at the link: https://eraperemen.info/priobresti/
