GOLD WEEKLY OUTLOOK – AWAITING CPI & PPI IMPACT!
GOLD WEEKLY OUTLOOK – CPI & PPI TO DRIVE THE NEXT MOVE!
🔥 GOLD REMAINS IN A RANGE – BREAKOUT OR CORRECTION AHEAD? 🔥
📌 Market Overview
Gold continues to trade sideways within a wide range, despite last week’s disappointing Nonfarm Payrolls (NFP) report for the U.S. economy. Even though the jobs data was weak, gold failed to break a new high, indicating that investors may have anticipated the report. Key market focus is now shifting towards Trump’s trade policies & inflation rather than employment data alone.
👉 After the news release, gold reacted briefly but lacked strong bullish momentum, continuing to trade around $2,910 before closing the week at this level.
📉 TECHNICAL ANALYSIS – KEY PRICE LEVELS
🔹 Resistance Levels to Watch:
$2,929: Immediate resistance; breaking this level could confirm bullish momentum.
$2,943 - $2,954: Major resistance; a breakout here could push gold towards $2,970+.
🔻 Support Levels to Watch:
$2,884: Closest support; breaking this could open the door for further downside.
$2,872 - $2,859: Strong support zone where buyers may step in.
$2,840: A critical level, especially if the upcoming CPI & PPI reports strengthen the USD.
📊 KEY EVENTS IMPACTING GOLD THIS WEEK
📅 CPI & PPI – The Major Catalysts Ahead
💡 Expectations:
If CPI and PPI come in higher than expected ➜ USD strengthens, and gold may correct lower.
If CPI and PPI are weaker ➜ USD weakens, and gold could break resistance to continue its uptrend.
⚠️ Key Technical Clues to Watch:
Gold needs to break out of the $2,926 - $2,896 range to confirm a trend direction.
Resistance at $2,926 - $2,928 is still holding, which doesn’t favor BUY setups yet.
If gold drops below $2,896 - $2,884, the likelihood of a deeper correction increases.
🎯 TRADING PLAN
🔵 BUY ZONE: $2,874 - $2,872
📍 SL: $2,868
🎯 TP: $2,878 - $2,882 - $2,886 - $2,890 - $2,900
🔴 SELL ZONE: $2,944 - $2,946
📍 SL: $2,950
🎯 TP: $2,940 - $2,935 - $2,930 - $2,926 - $2,922
⚡ CONCLUSION
📌 Wait for price reaction at key levels before making trading decisions.
📌 Focus on the $2,926 - $2,896 range to determine the main trend.
📌 Strictly follow TP/SL to protect your account and maximize profit!
💬 What’s your take? Will gold break higher or correct deeper? Drop your thoughts below! 🚀🔥
🔥 GOLD REMAINS IN A RANGE – BREAKOUT OR CORRECTION AHEAD? 🔥
📌 Market Overview
Gold continues to trade sideways within a wide range, despite last week’s disappointing Nonfarm Payrolls (NFP) report for the U.S. economy. Even though the jobs data was weak, gold failed to break a new high, indicating that investors may have anticipated the report. Key market focus is now shifting towards Trump’s trade policies & inflation rather than employment data alone.
👉 After the news release, gold reacted briefly but lacked strong bullish momentum, continuing to trade around $2,910 before closing the week at this level.
📉 TECHNICAL ANALYSIS – KEY PRICE LEVELS
🔹 Resistance Levels to Watch:
$2,929: Immediate resistance; breaking this level could confirm bullish momentum.
$2,943 - $2,954: Major resistance; a breakout here could push gold towards $2,970+.
🔻 Support Levels to Watch:
$2,884: Closest support; breaking this could open the door for further downside.
$2,872 - $2,859: Strong support zone where buyers may step in.
$2,840: A critical level, especially if the upcoming CPI & PPI reports strengthen the USD.
📊 KEY EVENTS IMPACTING GOLD THIS WEEK
📅 CPI & PPI – The Major Catalysts Ahead
💡 Expectations:
If CPI and PPI come in higher than expected ➜ USD strengthens, and gold may correct lower.
If CPI and PPI are weaker ➜ USD weakens, and gold could break resistance to continue its uptrend.
⚠️ Key Technical Clues to Watch:
Gold needs to break out of the $2,926 - $2,896 range to confirm a trend direction.
Resistance at $2,926 - $2,928 is still holding, which doesn’t favor BUY setups yet.
If gold drops below $2,896 - $2,884, the likelihood of a deeper correction increases.
🎯 TRADING PLAN
🔵 BUY ZONE: $2,874 - $2,872
📍 SL: $2,868
🎯 TP: $2,878 - $2,882 - $2,886 - $2,890 - $2,900
🔴 SELL ZONE: $2,944 - $2,946
📍 SL: $2,950
🎯 TP: $2,940 - $2,935 - $2,930 - $2,926 - $2,922
⚡ CONCLUSION
📌 Wait for price reaction at key levels before making trading decisions.
📌 Focus on the $2,926 - $2,896 range to determine the main trend.
📌 Strictly follow TP/SL to protect your account and maximize profit!
💬 What’s your take? Will gold break higher or correct deeper? Drop your thoughts below! 🚀🔥
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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.