Gold technical analysis:
4-hour chart resistance 3250, support below 3178
1-hour chart resistance 3235, support below 3195.
Yesterday's CPI was lower than expected, and gold broke through 3200. Today's US PPI data continues to guide the market direction. If the data results are lower than expected (forecasted to be 3.3%), it may strengthen the expectation of interest rate cuts and push gold prices to continue to break new highs. After the breakthrough, the next stage will be 3250~3280; if it exceeds expectations, it may suppress gold prices to 3175-3150
If it stands at $3235 after the news, the next upward target is 3250-3280
If the 1-hour chart K-line entity falls below $3180 after the news is released, it may test the support of 3160-3150 downward
For more daily analysis, please see the update →
4-hour chart resistance 3250, support below 3178
1-hour chart resistance 3235, support below 3195.
Yesterday's CPI was lower than expected, and gold broke through 3200. Today's US PPI data continues to guide the market direction. If the data results are lower than expected (forecasted to be 3.3%), it may strengthen the expectation of interest rate cuts and push gold prices to continue to break new highs. After the breakthrough, the next stage will be 3250~3280; if it exceeds expectations, it may suppress gold prices to 3175-3150
If it stands at $3235 after the news, the next upward target is 3250-3280
If the 1-hour chart K-line entity falls below $3180 after the news is released, it may test the support of 3160-3150 downward
For more daily analysis, please see the update →
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💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Signal and daily analysis channel
💥t.me/Actuary00group
✉️Signal and daily analysis channel
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.