Gold forecast in short term
Updated
disclaimer is ON, My POV which is relevant with gold price - based on weekly Time frame, - It looks the price will be hitting to the next level ( which 2200 as it has been forecasting) and it looks like that it will be declined after that and I am assuming based on EW, the price could be rejected and it will be heading to lower price - which may be around below 1900 level... if the price keep declining then it will be going lower as i have been described on the chart.. Hope we receive a good news from FEDERAL next week regarding CPI details and also reaction any further which is relevant with the cut rates... and we will see what happens next..
Note
thank you everyone for your reaction. hope now, gold is heading to the next support which is 2150 area - we will see how it goes after FOMC meeting which will be held on next week. if FOMC result is hawkies then the price gold could be moving to 2088. we will see how it goes after FOMC meeting, at this stage, my target is 2088
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