GOLD WILL FALL MORE
Updated
hello guys hope you have an amazing week .again the price perfectly moved according my last forecast more than +500 pips great profit .now lets start new forecast as you can see the price made a new lower high and new downtrend channel . After war news gold fell alot and broke uptrend and fixed below ma200 i expect after a pullback gold continue downtrend . If you check daily time frame you can see gold make a head and shoulders pattern too .
Gold prices fell on Monday, marking the first decline in six trading sessions despite a weaker dollar. This drop was attributed to easing geopolitical tensions following reports that Israel and Lebanon reached a ceasefire agreement in their conflict involving the Hezbollah militia.
Gold for February delivery dropped to $2,625 per ounce.
According to Axios, Israel agreed to a ceasefire with Lebanon despite continuing to bomb Beirut and Hezbollah firing rockets across the borders. This agreement reduced the tensions that had significantly escalated last week, leading to a 6.5% increase in gold prices. The rise occurred after Ukraine launched its first attacks on Russia using foreign-made missiles, prompting nuclear threats and the testing of a missile by Russia targeting the city of Dnipro.
The dollar weakened significantly, which is typically supportive for commodities priced in the currency.
Gold prices fell on Monday, marking the first decline in six trading sessions despite a weaker dollar. This drop was attributed to easing geopolitical tensions following reports that Israel and Lebanon reached a ceasefire agreement in their conflict involving the Hezbollah militia.
Gold for February delivery dropped to $2,625 per ounce.
According to Axios, Israel agreed to a ceasefire with Lebanon despite continuing to bomb Beirut and Hezbollah firing rockets across the borders. This agreement reduced the tensions that had significantly escalated last week, leading to a 6.5% increase in gold prices. The rise occurred after Ukraine launched its first attacks on Russia using foreign-made missiles, prompting nuclear threats and the testing of a missile by Russia targeting the city of Dnipro.
The dollar weakened significantly, which is typically supportive for commodities priced in the currency.
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