GOLD | OVERVIEW
Gold remains in bullish momentum following the CPI result of 2.4%, which came in below expectations. This increases the likelihood of a rate cut by the Fed, providing strong support for gold.
As long as the price trades above 3376 and 3351, the bullish trend is expected to continue toward 3404. A confirmed stabilization above 3404 could open the path toward 3431.
Bearish Correction till 3376 available.
Pivot: 3376
Resistance Lines: 3404, 3431
Support Lines: 3366, 3347
Gold remains in bullish momentum following the CPI result of 2.4%, which came in below expectations. This increases the likelihood of a rate cut by the Fed, providing strong support for gold.
As long as the price trades above 3376 and 3351, the bullish trend is expected to continue toward 3404. A confirmed stabilization above 3404 could open the path toward 3431.
Bearish Correction till 3376 available.
Pivot: 3376
Resistance Lines: 3404, 3431
Support Lines: 3366, 3347
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.