GOLD today in long-term and short-term trends
Gold Analysis October 24: Key Resistance Zones 2000
- Fundamental analysis:
Gold enjoyed another week of impressive price increases between 1932 and 1997 due to risk aversion due to the escalation of the Israeli-Palestinian war. Approximately 6,000 people have died on both sides, and that number is likely to rise further in the near future.
The United States believes that the actions of Iranian proxies are likely to escalate war in the Middle East. If Iranian proxies attack U.S. forces, the U.S. will likely respond. The United States is discussing with Israel how to achieve its military goals. It is predicted that this war could last three months
Super Physical Gold Reserve Fund SPDR suddenly bought 15 tonnes of gold in a trade last Friday, making it the shark's largest purchase in 2023. Predicting a long-term upward trend in gold? Important news was announced to the market today. Trends in Israel will continue to attract attention.
- Technical analysis:
D1's trend has reversed from a decline to an increase after two weeks of significant price increases. . Idea of the day: Wait until the sale ends
. Yesterday, the market produced a pin bar candlestick at bar D1. The candle body was rising, but the long upper shadow indicated a downward pressure trend. According to reports, Hamas also released two Israeli hostages and set terms for a ceasefire. This is a good move to lower gold prices at the moment. The main strategy now is to sell for a profit of about 193x 1900.
. The first half bar is expected to be a little worse for the US dollar as it gradually accumulates smaller amplitudes as we wait for news, especially the news that the Manufacturing PMI index was released in US trading today. As we've seen recently, the U.S. economy remains very strong with strong employment numbers, continued declines in unemployment claims, and a surge in retail sales. So tonight will be the next good news. for USD
****The short trend for the current market is:
☘ Yesterday the market showed signs of sellers jumping into the market when the price went up to the 1982-1983 range and was pushed down immediately. ☘ The closing price right at the 1972 zone is lower than the closing price of the previous days. The above signs show that the sellers are slightly higher than the buyers, but have not yet confirmed the bearish wave pattern. ☘ Today we will prioritize SELL more and wait for confirmation when the price breaks through the 1962-1963 zone to confirm a long-term decline. 🎍 Canh was sold in this region from 1987 to 1988
🌴 City: 1980-1970-1962
SL: 1995
🌴 Short-term purchase period in this region 1962-1963
🌴 City: 1970-1975-1980
SL: 1960
- Fundamental analysis:
Gold enjoyed another week of impressive price increases between 1932 and 1997 due to risk aversion due to the escalation of the Israeli-Palestinian war. Approximately 6,000 people have died on both sides, and that number is likely to rise further in the near future.
The United States believes that the actions of Iranian proxies are likely to escalate war in the Middle East. If Iranian proxies attack U.S. forces, the U.S. will likely respond. The United States is discussing with Israel how to achieve its military goals. It is predicted that this war could last three months
Super Physical Gold Reserve Fund SPDR suddenly bought 15 tonnes of gold in a trade last Friday, making it the shark's largest purchase in 2023. Predicting a long-term upward trend in gold? Important news was announced to the market today. Trends in Israel will continue to attract attention.
- Technical analysis:
D1's trend has reversed from a decline to an increase after two weeks of significant price increases. . Idea of the day: Wait until the sale ends
. Yesterday, the market produced a pin bar candlestick at bar D1. The candle body was rising, but the long upper shadow indicated a downward pressure trend. According to reports, Hamas also released two Israeli hostages and set terms for a ceasefire. This is a good move to lower gold prices at the moment. The main strategy now is to sell for a profit of about 193x 1900.
. The first half bar is expected to be a little worse for the US dollar as it gradually accumulates smaller amplitudes as we wait for news, especially the news that the Manufacturing PMI index was released in US trading today. As we've seen recently, the U.S. economy remains very strong with strong employment numbers, continued declines in unemployment claims, and a surge in retail sales. So tonight will be the next good news. for USD
****The short trend for the current market is:
☘ Yesterday the market showed signs of sellers jumping into the market when the price went up to the 1982-1983 range and was pushed down immediately. ☘ The closing price right at the 1972 zone is lower than the closing price of the previous days. The above signs show that the sellers are slightly higher than the buyers, but have not yet confirmed the bearish wave pattern. ☘ Today we will prioritize SELL more and wait for confirmation when the price breaks through the 1962-1963 zone to confirm a long-term decline. 🎍 Canh was sold in this region from 1987 to 1988
🌴 City: 1980-1970-1962
SL: 1995
🌴 Short-term purchase period in this region 1962-1963
🌴 City: 1970-1975-1980
SL: 1960
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