GOLD - Sensitive move
Gold prices increased on Friday and were poised to achieve their first weekly gain in four days following U.S. economic data that suggested a reduction in price pressures, thereby fostering optimism for a potential interest rate cut by the Federal Reserve.
After the gold price tested the support level of 2327 and stabilized above it, it is expected to trade in a bullish zone and reach around 2344 today. However, stabilization below the 2327 level will likely bring the price down to 2292 and 2283. However, once this process is complete, a corrective rise to 2327 is anticipated.
To activate a bullish trend, the price must stabilize above 2327, confirmed by the closing of a 4-hour candle, which would then target a rise to 2344.
After the gold price tested the support level of 2327 and stabilized above it, it is expected to trade in a bullish zone and reach around 2344 today. However, stabilization below the 2327 level will likely bring the price down to 2292 and 2283. However, once this process is complete, a corrective rise to 2327 is anticipated.
To activate a bullish trend, the price must stabilize above 2327, confirmed by the closing of a 4-hour candle, which would then target a rise to 2344.
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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