Gold rebounds but not out of the woods yet
Selena greets everyone!
On our 4-hour chart today, we can see that gold is attempting to recover from the losses in the previous trading session, with prices hovering around $1927. However, with the release of preliminary global PMI data, the US Dollar (USD) is temporarily gaining strength, despite the US Treasury bond yields reaching new highs in years, which could potentially suppress a significant increase in gold prices.
It is possible that Selena predicts that this upward trend will only occur in the short term, as gold has reached a resistance level and quickly retraced back to $1905 before any new developments arise from positive information from the Fed in the near future.
On our 4-hour chart today, we can see that gold is attempting to recover from the losses in the previous trading session, with prices hovering around $1927. However, with the release of preliminary global PMI data, the US Dollar (USD) is temporarily gaining strength, despite the US Treasury bond yields reaching new highs in years, which could potentially suppress a significant increase in gold prices.
It is possible that Selena predicts that this upward trend will only occur in the short term, as gold has reached a resistance level and quickly retraced back to $1905 before any new developments arise from positive information from the Fed in the near future.
Comment:
good luck everyone <3
Comment:
Currently, gold is forming an upward trendline, and the price may retreat within a narrow range of $1917-$1921 per ounce and continue to rise towards $1935 and $1945 in the foreseeable future.
