✍️ NOVA hello everyone, Let's comment on gold price next week, starting October
🔥 Identify: The end of the last week of September 2023 saw gold prices plummet to their lowest since March. Pressure to sell gold from investment funds, economic parameters favorable to the US economy, strong recovery of the dollar and fear among investors. Many impacts cause gold prices to decrease, but that was also NOVA's comment last week. In the following week, at the beginning of October, gold prices still did not have much motivation to increase in price. It is possible that the price will be lower than the current price. There will be good entry points for people to buy again
🔥 Technically: Based on the resistance and support areas of the gold price according to the D1 frame, NOVA identifies the important key areas as follows:
Resistance: $1887, $1910 Support : $1839, $1804
🔥 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
Comment
A week with a lot of important news that affects the price of gold, helping the price of gold to recover in the short term such as: PMI , Non farm, Unemployment Claims, JOLTS Job Openings…
Comment
After the sharp decline in gold prices at the end of September, it is predicted that the second half of 2023 will be very difficult for gold prices, continuing to be influenced by the world's largest US economy.
Comment
Starting October with PMI news, along with the FED's statement. Will the gold price have upward momentum or will it continue to fall to the 1805 area? It is very likely that it will continue to decline
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