Things just got messier. As of today, the U.S. slapped a 25% tariff on all steel and aluminum imports, hitting Canada, Mexico, South Korea, and others. This means higher costs, more inflation, and growing tensions.
On top of that, Gold held steady on Wednesday ahead of a key U.S. inflation data that could help gauge the Federal Reserve’s interest rate path amid trade tensions and economic slowdown fears, while attention was also on a potential ceasefire deal in Ukraine.
The price has reached 2923, a significant level expected to initiate an upward breakout from the consolidation zone. This level holds technical importance as it serves as a pivotal point where market dynamics shift in favor of buyers. A short-term correction is anticipated at this stage, as buyers seek liquidity to strengthen their positions before pushing the price higher. If buyers successfully absorb the selling pressure, the price is likely to gain momentum and advance toward the final resistance zone, confirming the breakout and reinforcing the bullish trend.
On top of that, Gold held steady on Wednesday ahead of a key U.S. inflation data that could help gauge the Federal Reserve’s interest rate path amid trade tensions and economic slowdown fears, while attention was also on a potential ceasefire deal in Ukraine.
The price has reached 2923, a significant level expected to initiate an upward breakout from the consolidation zone. This level holds technical importance as it serves as a pivotal point where market dynamics shift in favor of buyers. A short-term correction is anticipated at this stage, as buyers seek liquidity to strengthen their positions before pushing the price higher. If buyers successfully absorb the selling pressure, the price is likely to gain momentum and advance toward the final resistance zone, confirming the breakout and reinforcing the bullish trend.
- Bearish target: 2903, 2893, 2880.
- Bullish target: 2914, 2925, 2936
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.