GOLD - The DOWNWARD imposition continues
Gold prices increased by nearly 1% on Monday, rebounding from last week's sharp decline, as the U.S. dollar's rally paused. Market participants are now awaiting comments from Federal Reserve officials for further insights into the U.S. interest rate trajectory.
Technically, gold is expected to rise toward the resistance level at $2,607. Upon reaching this point, a reversal is anticipated, potentially leading to a decline through various support levels down to $2,531, a significant bearish breakout point.
Gold's price movements are shaped by factors such as Federal Reserve policies, economic indicators, and geopolitical events. Recent comments by Fed Chair Jerome Powell highlight a cautious stance on rate cuts due to the strong economy and ongoing inflation pressures.
Technically, gold is expected to rise toward the resistance level at $2,607. Upon reaching this point, a reversal is anticipated, potentially leading to a decline through various support levels down to $2,531, a significant bearish breakout point.
Gold's price movements are shaped by factors such as Federal Reserve policies, economic indicators, and geopolitical events. Recent comments by Fed Chair Jerome Powell highlight a cautious stance on rate cuts due to the strong economy and ongoing inflation pressures.
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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