Gold prices increased slightly when the Fed announced rate

Smart investment, Strong finance

GOLDEN INFORMATION:
According to preliminary data from CME Group, the number of open contracts in gold futures markets increased by only 140 on Wednesday. At the same time, trading volume rose by approximately 45.7K contracts, indicating continued volatility in the market.

On Wednesday, gold prices continued to rise, building upon previous gains. This upward movement was driven by an increase in both open interest and trading volume, suggesting that there may be further potential for gains in the near future. However, the immediate target for gold is expected to be around $1987, which is the high reached in July (on July 20).

Personal comments NOVA:
After the Fed continued to increase by 0.25% as originally expected, gold price had a slight correction around the 1980 mark, close to the 1985 price area. But the possibility of a strong bounce is not there yet, there will be the next downward correction.

SET UP GOLD PRICE:
SELL GOLD zone: $1980 - $1983 SL $1990
TP 1: $1975
TP2: $1960

BUY GOLD zone: $1948 - $1946 SL $1940
TP 1: $1960
TP2: $1975

Technical analysis:
Based on technical indicators EMA34, EMA89 moving averages and resistance and support areas for the safest signal.

NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest