MrCharlie GOLD Weekly Price Action . What Can We Expect in July
Updated
⁉️Ready to MAKE GOLD PROFIT🤩
GOLD prices initially dipped but then rebounded, with attention focused on the 👀2310 to 2300 level.
"Short-term pullbacks are likely to attract buyers, potentially pushing prices to 2,340 or even 2350
The month of June came to a close with a doji candle, which often signals 🤷♀️uncertainty in the market. As we look at the larger picture, gold's price remains trapped within the range of the massive bearish candle that formed earlier in June.
To establish a clear trend, I believe we need to see a break above or below the boundaries of this monthly candle. When we examine the daily chart, we can see that the price is being heavily squeezed, a condition that will eventually lead to a more impulsive movement.
Looking ahead to July, we can expect a 🙌significant move if the price breaks out of its current consolidation zone. If it 📈rises above the 2,350 level, there is a high probability that it will retest the top of the range at around 2,400. Conversely, if it breaks 📉below the support level, we can anticipate a more substantial decline, potentially all the way down to the 2,250 level.
Overall, I expect consolidation to continue with a slight 🐂bullish sentiment because central 🏦banks' efforts to hoard gold and recent geopolitical risks are supporting prices, while the low interest rate environment in the US also favors gold. With summer volatility typically lower, it's likely that gold will continue to consolidate.
GOLD prices initially dipped but then rebounded, with attention focused on the 👀2310 to 2300 level.
"Short-term pullbacks are likely to attract buyers, potentially pushing prices to 2,340 or even 2350
The month of June came to a close with a doji candle, which often signals 🤷♀️uncertainty in the market. As we look at the larger picture, gold's price remains trapped within the range of the massive bearish candle that formed earlier in June.
To establish a clear trend, I believe we need to see a break above or below the boundaries of this monthly candle. When we examine the daily chart, we can see that the price is being heavily squeezed, a condition that will eventually lead to a more impulsive movement.
Looking ahead to July, we can expect a 🙌significant move if the price breaks out of its current consolidation zone. If it 📈rises above the 2,350 level, there is a high probability that it will retest the top of the range at around 2,400. Conversely, if it breaks 📉below the support level, we can anticipate a more substantial decline, potentially all the way down to the 2,250 level.
Overall, I expect consolidation to continue with a slight 🐂bullish sentiment because central 🏦banks' efforts to hoard gold and recent geopolitical risks are supporting prices, while the low interest rate environment in the US also favors gold. With summer volatility typically lower, it's likely that gold will continue to consolidate.
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Today traders we are successfully reached our first target 2338 so keep hold and wait till to the target if you like this idea if you have on opinion so must write in the comments don't worry traders we nearly to the targetTrade closed: target reached
traders we are succefully reached our target so must be sure to fallow me now i send next GOLD target now fallow this setup thanks
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