Gold Futures Rise, Recovering Some Losses on Weaker Dollar
Gold retreated from near-record highs on Wednesday after U.S. inflation data, while positive, suggested that the Federal Reserve might implement smaller-than-anticipated interest rate cuts in September.
Technical Analysis: Gold
Gold retreated from near-record highs on Wednesday after U.S. inflation data, while positive, suggested that the Federal Reserve might implement smaller-than-anticipated interest rate cuts in September.
Technical Analysis: Gold
- Current Outlook:
The price hit our target perfectly and has since reversed. It is now attempting to reach 2,466, with a focus on the bullish volume above 2,475. Stability above this level could drive the price higher towards 2,493 and 2,525. - Bullish Scenario:
The price is currently attempting to reach 2,466. A break above this level could activate a bullish trend, leading to 2,475, and further gains towards 2,493. - Bearish Scenario:
As long as the price trades below 2,466 and 2,460, it remains in a bearish zone, potentially declining towards 2,442 and further down to 2,428. - Key Levels:
- Pivot Line: 2,460
- Resistance Levels: 2475, 2484, 2493
- Support Levels: 2442, 2430, 2420 - Today's Expected Trading Range:
The price is anticipated to fluctuate between 2,428 and 2,475.
*Tendency: Consolidation between 2,466 and 2,442, with a bearish bias.
previous idea:
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.