3.13CPI is bullish, gold cautiously rises and falls in short ter
The CPI data released in the evening was lower than expected, which is bullish for gold in the short term and continues to fluctuate during the day.
In the short-term 1-hour chart, according to 4, the price has risen above the directionless 20-period SMA and 100-period SMA, while the 200-period SMA is rising below the above short-term moving averages. At the same time, technical indicators have lost directional strength and turned slightly lower within the neutral level, predicting that gold prices may fall soon.
Short-term trading: short near 2935, stop loss 2945, take profit 2920/2915
In the short-term 1-hour chart, according to 4, the price has risen above the directionless 20-period SMA and 100-period SMA, while the 200-period SMA is rising below the above short-term moving averages. At the same time, technical indicators have lost directional strength and turned slightly lower within the neutral level, predicting that gold prices may fall soon.
Short-term trading: short near 2935, stop loss 2945, take profit 2920/2915
Trade active
Traders, if you like this idea or you have your own opinion on it, please write it in the comments. I will be very happyTrade closed: target reached
Intraday data:Initial jobless claims in the U.S. for the week ending March 8 (10,000 people)
U.S. PPI annual rate in February
U.S. PPI monthly rate in February
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.