Trump conquers. Will the mighty US lead the way?
In a massive victory for the Republicans, Donald Trump has won the 2024 US election. In what was seen pre-election as an extremely close race, Trump ended up reaching the 270 seats to win in a relatively short time (Trump 295 Harris 226).
More importantly, economically the US has immediately shot upwards. The US500 rocketing upwards to a new all time high, currently sitting at 5976 at time of writing. Effects from the election echoed through to the ASX200, also sending our market upwards to 8319 at time of writing.
In a surprise, cryptocurrency giant Bitcoin blasted through its record, reaching an all time high as well. BTC is currently sitting at $US76,332 just now and looking to move confidently into its next stage of growth.
Precious metals initially fell on the news of Trumps victory, but are now looking to recover some of those losses. Gold is currently sitting at $US2708 and Silver at US$31.98.
As the results of the election are absorbed into the economy in the coming weeks; the world will wait with baited breath to see what President elect Donald Trump will have on his action plan to start his term.
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 STRONG BUY signal.
Technical indicators - Monthly Projections
RSI(14) | Overbought |
STOCH(9,6) | Buy |
STOCHRSI(14) | Overbought |
MACD(12,26) | Buy |
ADX(14) | Buy |
Williams %R | Overbought |
CCI(14) | Buy |
ATR(14) | High Volatility |
Highs/Lows(14) | Buy |
Ultimate Oscillator | Buy |
ROC | Buy |
Bull/Bear Power(13) | Buy |
Summary for Monthly forecast: Strong Buy
*Not financial advice, please DYOR prior to any investment decisions you make.
Author
Jaggards