GOLD: Continues to respect our bearish scenario
Yesterday we had a bad joke from Trump and the price tested again a very strong resistance area located near 3378.
As you can see from the chart, the sell-off happened quickly and was just a sell-off in a deep pullback.
Today, the price was struggling to find a clear direction, but after Trump said he had no plans to fire the Federal Reserve's Powell, the market calmed down easily.
The price fell from another strong support area earlier today after the US printed strong Retail Sales data for June of 0.6% versus an estimate of 0.1%.
The chances of further declines, as I explained earlier, are increasing further and it could even reach 3260, it seems.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Yesterday we had a bad joke from Trump and the price tested again a very strong resistance area located near 3378.
As you can see from the chart, the sell-off happened quickly and was just a sell-off in a deep pullback.
Today, the price was struggling to find a clear direction, but after Trump said he had no plans to fire the Federal Reserve's Powell, the market calmed down easily.
The price fell from another strong support area earlier today after the US printed strong Retail Sales data for June of 0.6% versus an estimate of 0.1%.
The chances of further declines, as I explained earlier, are increasing further and it could even reach 3260, it seems.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Note
Note
GOLD - base analysis I posted some days ago
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✅MY Recommended Broker is TRADE NATION
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Related publications
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.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Related publications
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.