💵GOLD PRICE AND ECONOMIC INFORMATION
Gold dropped to around $2,320 per ounce on Monday, following a more than 1% rise last week, under pressure from higher US Treasury yields, while market participants awaited further cues to gauge the Federal Reserve's monetary policy trajectory. Last week's data indicated that US consumer prices held steady in May for the first time in nearly two years, while producer prices unexpectedly declined.
Analysis:
Gold is currently stuck in the price range
Current gold range: 2340 - 2295
Between the 2 EMAs of frame D.
Large frame H4 shows a clear selling trend
🔴SELL GOLD: 2340 - 2342, SL: 2346
🟢BUY GOLD: 2307 - 2305, SL: 2301
⛔️Breakout:
📈 Breakout on: 2340
📉 Breakout below: 2312
🔼Support: 2312 - 2305 - 2291 - 2286 - 2280- 2274
🔽Resistance: 2338 - 2340 - 2350
GOOD LUCK EVERYONE👍
Gold dropped to around $2,320 per ounce on Monday, following a more than 1% rise last week, under pressure from higher US Treasury yields, while market participants awaited further cues to gauge the Federal Reserve's monetary policy trajectory. Last week's data indicated that US consumer prices held steady in May for the first time in nearly two years, while producer prices unexpectedly declined.
Analysis:
Gold is currently stuck in the price range
Current gold range: 2340 - 2295
Between the 2 EMAs of frame D.
Large frame H4 shows a clear selling trend
🔴SELL GOLD: 2340 - 2342, SL: 2346
🟢BUY GOLD: 2307 - 2305, SL: 2301
⛔️Breakout:
📈 Breakout on: 2340
📉 Breakout below: 2312
🔼Support: 2312 - 2305 - 2291 - 2286 - 2280- 2274
🔽Resistance: 2338 - 2340 - 2350
GOOD LUCK EVERYONE👍
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.
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.