GOLD - SENSITIVE MOVEMENT
Gold prices slipped on Wednesday as the dollar ticked up, while investors awaited a key U.S. inflation report due this week for more clarity on the size of a likely September rate cut.
Generally, the trend is up.
Uptrend Side: Gold prices have resumed positive trading following the recent decline but have since reversed and fallen again. As long as the price remains above 2500, particularly above the 2514 level, further upward movement toward the 2527 level is anticipated, which marks our previous high with the potential to reach a new high of 2540.
Downtrend Side: For the price to establish a confirmed downtrend, it must stabilize below the key support level of $2,500, which should be validated by the close of a 4-hour candle. As an initial step towards this bearish trend, the price should further decline to close below the $2,475 level by the closing 1D candle. This would reinforce the downward momentum and indicate a deeper correction is likely.
Tendency Keys: 2500
Generally, the trend is up.
Uptrend Side: Gold prices have resumed positive trading following the recent decline but have since reversed and fallen again. As long as the price remains above 2500, particularly above the 2514 level, further upward movement toward the 2527 level is anticipated, which marks our previous high with the potential to reach a new high of 2540.
Downtrend Side: For the price to establish a confirmed downtrend, it must stabilize below the key support level of $2,500, which should be validated by the close of a 4-hour candle. As an initial step towards this bearish trend, the price should further decline to close below the $2,475 level by the closing 1D candle. This would reinforce the downward momentum and indicate a deeper correction is likely.
Tendency Keys: 2500
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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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