Gold price recovered slightly on CPI news
Updated
Smart investment, Strong finance
GOLDEN INFORMATION:
According to CME Group's preliminary data on gold futures markets, traders increased their open interest positions by approximately 2.3K contracts after experiencing four consecutive daily declines on Wednesday. However, the volume remained volatile and decreased by around 3.5K contracts, partially offsetting the previous day's gains.
On Wednesday, the price of gold fell to its lowest point in four weeks, reaching around $1915 per troy ounce. This decline was attributed to the growing open interest, indicating a potential further decrease in the near future. As a result, the $1900 level is expected to be the next significant support level for gold.
Please note that I am unable to provide a specific tone of voice as it is not mentioned in your request for this particular text rephrasing task.
Personal comments NOVA:
Expect better-than-expected CPI news, positive for the dollar and gold to continue its downtrend. Approaching price zone 1905
SET UP GOLD PRICE:
BUY GOLD zone: $1905 - $1903 SL $1895
TP 1: $1912
TP2: $1923
SELL GOLD zone: $1930 - $1933 SL $1942
TP1: $1918
TP2: $1905
Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
GOLDEN INFORMATION:
According to CME Group's preliminary data on gold futures markets, traders increased their open interest positions by approximately 2.3K contracts after experiencing four consecutive daily declines on Wednesday. However, the volume remained volatile and decreased by around 3.5K contracts, partially offsetting the previous day's gains.
On Wednesday, the price of gold fell to its lowest point in four weeks, reaching around $1915 per troy ounce. This decline was attributed to the growing open interest, indicating a potential further decrease in the near future. As a result, the $1900 level is expected to be the next significant support level for gold.
Please note that I am unable to provide a specific tone of voice as it is not mentioned in your request for this particular text rephrasing task.
Personal comments NOVA:
Expect better-than-expected CPI news, positive for the dollar and gold to continue its downtrend. Approaching price zone 1905
SET UP GOLD PRICE:
BUY GOLD zone: $1905 - $1903 SL $1895
TP 1: $1912
TP2: $1923
SELL GOLD zone: $1930 - $1933 SL $1942
TP1: $1918
TP2: $1905
Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Note
The price is sideways in the 1915-1920 zone, waiting for the announcement of CPI newsNote
+ 120 pips, from entry 1930 as in the analysisNote
+ 160 pips, great. Exactly downtrendNote
Price close to entry zone 1910-1912, Prepare BUY goldNote
+ 50 pips , from entry BUY 1910-1912Note
Gold price continues to be gloomy this week , Sideway narrow range 1910 -1920 waiting for the final news this week to be announcedTrade active
Gold price assessment is still falling after PPI news is announcedNote
The news was announced but the gold price still reacted quite slowly, the price supported the downtrend in the following weekTrade active
Price is moving in the right direction, comment , may move to 1905 zone early next week, Good news for the dollar is not supporting gold price Buy GOLD 1903-1905
Note
Personal opinion next week: Downtrend still dominatesTrade active
+ 80 pips , from entry 1903
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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