Gold Futures Rise on Weak U.S. Jobs Data, Boosting Rate-Cut Optimism
Gold Technical Analysis for today
Current Outlook: Gold prices have once again approached resistance, driven by weak U.S. jobs data. However, today's release of ADP and ISM reports could negatively impact gold, especially if the ADP data comes in stronger than expected.
As long as the price remains below 2,516, it is likely to support a bearish move towards 2,500. A break below this level would extend the bearish trend towards 2,475. On the other hand, a 1-hour candle close above 2,516 would shift momentum upward, targeting 2,526. A break above 2,526 would activate a bullish trend.
Key Levels:
Pivot Point: 2516
Resistance Levels: 2526, 2532, 2543
Support Levels: 2502, 2484, 2475
Expected Trading Range: 2527 - 2484
Trend: Bearish while below 2516 and 2526.
previous idea:
Gold Technical Analysis for today
Current Outlook: Gold prices have once again approached resistance, driven by weak U.S. jobs data. However, today's release of ADP and ISM reports could negatively impact gold, especially if the ADP data comes in stronger than expected.
As long as the price remains below 2,516, it is likely to support a bearish move towards 2,500. A break below this level would extend the bearish trend towards 2,475. On the other hand, a 1-hour candle close above 2,516 would shift momentum upward, targeting 2,526. A break above 2,526 would activate a bullish trend.
Key Levels:
Pivot Point: 2516
Resistance Levels: 2526, 2532, 2543
Support Levels: 2502, 2484, 2475
Expected Trading Range: 2527 - 2484
Trend: Bearish while below 2516 and 2526.
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.