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Yuan Gold

NOTE - section under construction!


September 8, 2022: Gold - A Bull Run it is!

chinese gold special scale PF chart Yuan

CNYGold pf1
short term candle
Chart comments
CNYGold candle1

Gold expressed in Chinese Yuan: China is the world's biggest buyer of physical gold.

  • Jan 28, 2015: broken through 200 days MA = buy signal
  • March 7, 2016: a BREAKOUT it is
  • Jan 8 - Feb 7, 2017: and fresh upleg
  • Jan 5, 2018: Chinese started massively buying gold after the holiday week.
  • May 3 - June 20: more sideward accumulation - note the impressive VOLUME each time the price hits the bottom of the trading zone.
  • Jan 16 - Feb 8, 2019: waiting for action
  • March 9 - Aug 6: resuming bull trend now...
  • Jan 3 - Feb 4, 2020: backtest/flag completed and new bull run.
  • Feb 25 - April 9: Target is 4,700 - 4,800
  • April - May 10, 2022: Start the SECOND upleg and strong BUY.
  • June 10 - 25: enjoy the ride.
  • July 12 - Aug. 5 - Sep. 8: second stop and BUY opportunity before the ride.
long term candle
CNYGold candle2

Chinese Yuan/Renminbi versus US-Dollar: Since currency devaluations no longer work, we have a "Trade War."

CNY pf1
Short Term Candle Chart comments
CNYUSD candle1
  • April 23, 2022: breakdown out of a BEARISH WEDGE versus the US-Dollar.
  • May 10: 5% lower and SUPPORT.
  • June 25 - July 12: higher we shall see?...or Sideward??
  • Aug. 5: the backlash of the Putin sanctions can send the Yuan back up by 5% in no time!
  • Sep. 8: Oversold; the Yuan is a Long Term BUY vs. the USD at this level.
Long Term Candle
CNYUSD candle2

 


Chinese Yuan/Renminbi versus Euro:

China is doing whatever it can to stay competitive with the rest of the world. MADE in CHINA must continue to sell...even when China is entering a RECESSION (March 2019)


 

eCNY pf1
   
eCNY candle1  
 
eCNY candle2

China is not the next economic and political giant! It may even be a power in decline.  The bulk of Chinese live in the same conditions Nigerians live in and the Upper Middle class has no heated houses and no warm and often no running water. China, however, holds GOLD & SILVER. And he who holds the money (Gold & Silver) rules the world.

 

chinese gold holdings
chinese renminbi china gold demand
USD-CNY march2014 2016 chinese gold reserves

Copyright, All Rights Reserved - The contents of this report may NOT be copied, reproduced, or distributed without the explicit written consent of Goldonomic (Jan 2018)


 

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