🔔🔔🔔 Gold news:
➡️ The yield on the U.S. 10-year Treasury rose by seven basis points to 4.495%.
➡️ The University of Michigan's Consumer Sentiment Index posted a sharp drop in April, falling from 57.0 to 50.8, indicating growing pessimism among households.
➡️ In March, the U.S. Producer Price Index (PPI) eased to 2.7% year-over-year, down from 3.2% and below expectations of 3.3%, suggesting that input cost pressures are moderating. However, core PPI — which excludes food and energy — remains above 3%, coming in at 3.3% year-over-year, down from 3.5% in February and slightly below the forecast of 3.6%.
On Friday, several U.S. banks, including Wells Fargo and Morgan Stanley CEO Ted Pick, warned of a heightened risk of recession. JPMorgan CEO Jamie Dimon estimates the odds of a U.S. recession at 50%.
Personal opinion:
➡️ Gold has received strong support from the increasingly risky US-China trade war. And the fear of a US economic recession is being widely discussed.
➡️ There is little news that will strongly affect the price of gold next week. So this will be an opportunity for a short-term technical adjustment of gold to gain momentum to promote the main increase. RSI entering the overbought zone and showing signs of divergence further strengthens this argument.
➡️ Analysis based on resistance - support levels and trend lines combined with RSI to come up with a suitable strategy. Watch for technical recovery zones to get good profits for you.
Support zone: 3217 - 3200 - 3277
Resistance zone: 3247 - 3300
FM wishes you a successful trading day 💰💰💰
➡️ The yield on the U.S. 10-year Treasury rose by seven basis points to 4.495%.
➡️ The University of Michigan's Consumer Sentiment Index posted a sharp drop in April, falling from 57.0 to 50.8, indicating growing pessimism among households.
➡️ In March, the U.S. Producer Price Index (PPI) eased to 2.7% year-over-year, down from 3.2% and below expectations of 3.3%, suggesting that input cost pressures are moderating. However, core PPI — which excludes food and energy — remains above 3%, coming in at 3.3% year-over-year, down from 3.5% in February and slightly below the forecast of 3.6%.
On Friday, several U.S. banks, including Wells Fargo and Morgan Stanley CEO Ted Pick, warned of a heightened risk of recession. JPMorgan CEO Jamie Dimon estimates the odds of a U.S. recession at 50%.
Personal opinion:
➡️ Gold has received strong support from the increasingly risky US-China trade war. And the fear of a US economic recession is being widely discussed.
➡️ There is little news that will strongly affect the price of gold next week. So this will be an opportunity for a short-term technical adjustment of gold to gain momentum to promote the main increase. RSI entering the overbought zone and showing signs of divergence further strengthens this argument.
➡️ Analysis based on resistance - support levels and trend lines combined with RSI to come up with a suitable strategy. Watch for technical recovery zones to get good profits for you.
Support zone: 3217 - 3200 - 3277
Resistance zone: 3247 - 3300
FM wishes you a successful trading day 💰💰💰
Trade active
the plan is on trackCurrent price 3298
Set up the plan
Sell Gold : 3310 -3312
SL: 3316
TP: 3306- 3300 - 3295
wish you a successful trading day
Trade closed: target reached
ATH 3357Buying power is too strong. Limit selling at this time
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
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.