GOLD PRICE DECREASES LAST SESSION
💵GOLD PRICE AND ECONOMIC INFORMATION
Gold held steady above the $2,300 per ounce mark on Friday, on track for its first weekly gain in four weeks after falling over 1% in the previous session, as investors assessed softer-than-anticipated US inflation figures against the Federal Reserve’s updated interest rate projections. Thursday's data showed that the US PPI unexpectedly fell in May amid lower energy costs, indicating that inflationary pressures continued to subside. This followed cooler-than-expected consumer inflation data released last Wednesday. However, the latest dot-plot projections from FOMC members revealed that, on average, they anticipate only one 25 basis point rate cut this year, with four members forecasting no cuts at all.
✉️Deekop's Analysis:
After the FOMC and CPI forecasts as expected, gold increased slightly to 2340 and fell in line with the FOMC's good USD direction.
Today's milestone 2304-2308 is quite important. Gold will grind to break this mark if it wants to create a downward trend to conquer the 2291-2267 mark.
🔴SELL GOLD: 2319 - 2321, SL: 2325
(Sell retest dow + down vol)
🔴SELL GOLD: 2336 - 2338, SL: 2342
🟢BUY GOLD: 2282 - 2280 SL: 2276
⛔️Breakout:
📈 Breakout on: 2325
📉 Breakout below: 2305- 2291 - 2286 - 2280
🔼Support: 2305 - 2291 - 2286 - 2280- 2274
🔽Resistance: 2317 - 2321 - 2325 - 2333 - 2338
Deekop's daily plans all achieve fixed profits
GOOD LUCK EVERYONE👍
Gold held steady above the $2,300 per ounce mark on Friday, on track for its first weekly gain in four weeks after falling over 1% in the previous session, as investors assessed softer-than-anticipated US inflation figures against the Federal Reserve’s updated interest rate projections. Thursday's data showed that the US PPI unexpectedly fell in May amid lower energy costs, indicating that inflationary pressures continued to subside. This followed cooler-than-expected consumer inflation data released last Wednesday. However, the latest dot-plot projections from FOMC members revealed that, on average, they anticipate only one 25 basis point rate cut this year, with four members forecasting no cuts at all.
✉️Deekop's Analysis:
After the FOMC and CPI forecasts as expected, gold increased slightly to 2340 and fell in line with the FOMC's good USD direction.
Today's milestone 2304-2308 is quite important. Gold will grind to break this mark if it wants to create a downward trend to conquer the 2291-2267 mark.
🔴SELL GOLD: 2319 - 2321, SL: 2325
(Sell retest dow + down vol)
🔴SELL GOLD: 2336 - 2338, SL: 2342
🟢BUY GOLD: 2282 - 2280 SL: 2276
⛔️Breakout:
📈 Breakout on: 2325
📉 Breakout below: 2305- 2291 - 2286 - 2280
🔼Support: 2305 - 2291 - 2286 - 2280- 2274
🔽Resistance: 2317 - 2321 - 2325 - 2333 - 2338
Deekop's daily plans all achieve fixed profits
GOOD LUCK EVERYONE👍
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