GOLD 4H (Still bullish )
Updated
GOLD
OUTLOOK
Gold prices rose on Monday despite Federal Reserve Chairman Jerome Powell's comments about the possibility of further interest rate hikes, as markets seek clues through economic data this week to paint a clearer picture of the path of interest rates.
as we mentioned before as long as price trade above 1902 the direction will be uptrend and the price will continue at the bullish attempts but right now to confirm the bullish trend should stable above 1924 and then will reach 1932 and 1943
also under 1912 it will be possible to retest to 1902 and then rise up again
The expect range trading for today it will be between support line 1912 and resistance line 1924
support line : 1912 , 1902
resistance line : 1924 , 1932
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OUTLOOK
Gold prices rose on Monday despite Federal Reserve Chairman Jerome Powell's comments about the possibility of further interest rate hikes, as markets seek clues through economic data this week to paint a clearer picture of the path of interest rates.
as we mentioned before as long as price trade above 1902 the direction will be uptrend and the price will continue at the bullish attempts but right now to confirm the bullish trend should stable above 1924 and then will reach 1932 and 1943
also under 1912 it will be possible to retest to 1902 and then rise up again
The expect range trading for today it will be between support line 1912 and resistance line 1924
support line : 1912 , 1902
resistance line : 1924 , 1932
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Note
GOLDAs we mentioned from the previous idea as long as price trade above 1902 the direction will be uptrend and price reached at resistance line 1924
Now , to continue at the bullish trend should stable above 1924 and then will support the price to reach 1932 and 1943
under 1924 will make the price to start a correction to visit the previous broken area 1912 and under that 1902 so the main condition to continue at the bullish trend is stabilized above 1924
The expect range trading for today it will be between resistance line 1924 and support line 1912
Additionally , At this time, the markets are awaiting the release of US employment opportunities data and the US consumer confidence index, as these data will have an important impact on the market movement and will affect the market directly .
support line : 1912 , 1902
resistance line : 1924 , 1932
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
AS we said the direction is uptrend and price will reach 1932 and 1943 an already the price reached our first target Now , to continue at the bullish trend should stable above 1932 and then will form impulse to reach 1943
under 1932 its possible to retest and visit the previous broken area to 1924 again
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