The direction of gold is currently uncertain, as it is highly influenced by market sentiment. The FOMC statement on Wednesday could prove pivotal in establishing a real direction for gold. I favor the bulls for a continuation to the $2,000 psychological level, as several confluences of what I call the "death box" align to support price continuing its bullish run....
The price of gold is currently uncertain, as it is highly influenced by market sentiment. The FOMC statement on Wednesday could prove pivotal in establishing a real direction for gold. I favor the bulls for a continuation to the $2,000 psychological level, as several confluences of what I call the "death box" align to support price continuing its bullish run.
I...
Though gold long term bias is bullish, theres alway a rhythmic harmony between both sides. looks like gold is in a range. probable bullish continuation reversal off the demand confluence area (4hr demand zones, sell-side liquidity, order block and support) between 1957$ - 1925$. a break below this level signifies a downtrend. A retest at 1981$ - 2010$ is high...
This a short timeframe (15m ), New week gap is likely bullish. gold to retrace between 2000$ to 1990$ liquid areas then bounce off to 2060$ establishing bullish trend also backed by strong 4hr demand zone? or is this really just market manipulation that favours the downside?
gold breached the 1900$ support bolstered by NON FARM PAYROLL news which was outrageously positive for the dollar. bearish momentum is still very strong since price is resisted by the the 1888$ strong resistance, hence bulls are unable to retest the 1900$ psychological zone. although price is still very much neutral, might consolidate between zones till Feb14 Cpi news
fundamentally China's ease on covid policy should affect NZD positively since they are one of the major exporter to china economy. this is generally a good news for nzd on simple rudiment of supply and demand which serve as basics of any market economy
Fundamentally the safe heaven commodity is expected to continue it bullish run till price @1869 Resistance Zone. bull run is also supported by dynamic trendline. possible retest of @1720 before decisive bull run
