GOLD: Bullish Momentum Remains Intact - Short-Term Trade
GOLD: Bullish Momentum Remains Intact
In my previous analysis, we anticipated GOLD to decline from 2530, reaching 2490.
However, the current situation with gold is more complex than it appears. GOLD remains a manipulated asset and will not move down easily.
It should be dominated by bullish volume as long as we are in a strong bullish trend.
From a fundamental perspective, the market is speculating and focusing on US data this week: JOLTS, ADP, and NFP data. In the coming weeks, we also have the FOMC meeting.
Considering all of this, we may see GOLD rising to 2530 again before it moves down.
My broader analysis remains bearish and unchanged.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
GOLD -> Previous Analysis:
GOLD -> Bigger Picture Analysis:
In my previous analysis, we anticipated GOLD to decline from 2530, reaching 2490.
However, the current situation with gold is more complex than it appears. GOLD remains a manipulated asset and will not move down easily.
It should be dominated by bullish volume as long as we are in a strong bullish trend.
From a fundamental perspective, the market is speculating and focusing on US data this week: JOLTS, ADP, and NFP data. In the coming weeks, we also have the FOMC meeting.
Considering all of this, we may see GOLD rising to 2530 again before it moves down.
My broader analysis remains bearish and unchanged.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
GOLD -> Previous Analysis:
GOLD -> Bigger Picture Analysis:
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