☁️Last weekend, gold received strong support and surpassed the psychological resistance level of $2000. It closed the trading session at $2006, driven by increased political risks despite positive economic data released by the United States for the dollar.
☁️The 2000 and 1993 zones have become two strong support zones in the context of gold showing no signs of recovery.
☁️In relation to basic analysis: The price of gold is being heavily impacted by news regarding war. The disruption in the global supply chain is becoming more severe. There has been an increase in oil prices and the prices of other consumer goods. This is putting pressure on global inflation, especially since the Federal Reserve (FED) appears to have no additional capacity to raise interest rates. All of these factors are contributing to the upward movement of gold.
☁️We are currently witnessing a corrective phase within the price range of 1992. Additionally, we can consider the price response within the range of 1997 and take advantage of small-volume trading opportunities within this range.
☁️The 2000 and 1993 zones have become two strong support zones in the context of gold showing no signs of recovery.
☁️In relation to basic analysis: The price of gold is being heavily impacted by news regarding war. The disruption in the global supply chain is becoming more severe. There has been an increase in oil prices and the prices of other consumer goods. This is putting pressure on global inflation, especially since the Federal Reserve (FED) appears to have no additional capacity to raise interest rates. All of these factors are contributing to the upward movement of gold.
☁️We are currently witnessing a corrective phase within the price range of 1992. Additionally, we can consider the price response within the range of 1997 and take advantage of small-volume trading opportunities within this range.
Trade active
Gold is going right analysisNote
Buy GOLD 1991-1993 scalpingNote
+ 50 pips right now for every oneTrade closed: target reached
+120 pips winning strategy
Related publications
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.
Related publications
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.