GOLD IS READY TO INCREASE IN PRICE
Updated
Gold prices fell near $2,300 per ounce on Tuesday, hovering at one-month lows, as investors wait for US inflation data and the Federal Reserve's policy announcement later in the week. Traders will closely monitor for cues on when the Fed might begin reducing rates, in light of a stronger-than-expected payroll report last Friday.
🔴SELL GOLD: 2320 - 2322, SL: 2327
🔴SELL GOLD: 2338 - 2340, SL: 2344
🟢BUY GOLD: 2270 - 2268, SL: 2264
🔝Technical analysis:
Gold experienced a sharp fall after being affected by two important news about China stopping buying gold in May and Nonfarm being very good for USD.
Today Gold is staying in the price range of 2320$ -2280$. Waiting for the scalp is the breakout strategy here
⛔️Breakout:
📈 Breakout on: 2309 - 2320 - 2329
📉 Breakout below: 2286 - 2280
🔼Support: 2286 - 2280 - 2274 - 2268 - 2259
🔽Resistance: 2308 - 2320 - 2329 - 2338
GOOD LUCK EVERYONE👍
🔴SELL GOLD: 2320 - 2322, SL: 2327
🔴SELL GOLD: 2338 - 2340, SL: 2344
🟢BUY GOLD: 2270 - 2268, SL: 2264
🔝Technical analysis:
Gold experienced a sharp fall after being affected by two important news about China stopping buying gold in May and Nonfarm being very good for USD.
Today Gold is staying in the price range of 2320$ -2280$. Waiting for the scalp is the breakout strategy here
⛔️Breakout:
📈 Breakout on: 2309 - 2320 - 2329
📉 Breakout below: 2286 - 2280
🔼Support: 2286 - 2280 - 2274 - 2268 - 2259
🔽Resistance: 2308 - 2320 - 2329 - 2338
GOOD LUCK EVERYONE👍
Note
Gold is in an uptrend until it meets resistance
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.