From a technical point of view, Trend is bullish on Daily and Intraday charts. At the same time, if we look at 1H chart, our impulsive structure 12345 could soon be completed, and this bullish consolidation (we are currently still working wave 5) could become an interesting opportunity to sell Gold as a tactical strategy. From our point of view, it might be interesting to try to sell this rally above 2,020 area.
What do you think about it? ..and what could be the closest Target in your opinion?
Trade with care
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What do you think about it? ..and what could be the closest Target in your opinion?
Trade with care
Like | Share | Comment
Comment:
🔴 If you are interested at the long side, you can follow our idea/analysis below:
🔔 2024 Forex Long Term Analysis:
🌐 anonymousbanker.org/
🥇 Crypto Exchange:
🌐 bit.ly/CryptExchange
Analysis made with 💝
By Anonymous Banker
A TradingView Fan since 2015
🌐 anonymousbanker.org/
🥇 Crypto Exchange:
🌐 bit.ly/CryptExchange
Analysis made with 💝
By Anonymous Banker
A TradingView Fan since 2015
🔴 Bullion prices have pulled back after surpassing the key $2,000 level last week, supported by strong safe-haven inflows due to growing unrest in the Middle East , helping it register its biggest monthly rise since March in October.
🔴 This is just a long-overdue consolidation following a very strong rally seen in the past three weeks, and prices could drop to at least $1,952, said Ole Hansen, Saxo Bank's head of commodity strategy.
🔴 Investors' focus now shifts to the end of the Fed's two-day monetary policy meeting at 1800 GMT, and Powell's speech at 1830 GMT.
📢 "Although no change in the interest rates is expected, the focus will be on the Fed's assessment of the U.S. economy and clues to the monetary policy going forward," said Praveen Singh, associate vice president at BNP Paribas' Sharekhan.
(from our blog)