GOLD 4H: Supports further decline
Updated
GOLD
OUTLOOK
The prices of the yellow metal were subjected to downward pressure in trading today, Thursday. Which prompted it to decline from its highest levels in several weeks, coinciding with the rise of the US dollar index and US bond yields, despite the US Federal Reserve keeping interest rates at the same levels without change during the policy committee meeting yesterday, but the statements of the bank’s governor, Jerome Powell, reinforced expectations of the possibility Tighten monetary policy in the future to rein in inflation.
Technical abstract :
The price of gold resumes its negative trading and begins to move away from the 1930 level, to support the continuation of the expected downward trend for today, and the way is open to achieving our main awaited target at 1916 and 1909 for today .
Waiting for more bearish bias during the coming sessions, provided it remains below the 1930 level that supported to drop, stabilized above 1930 will postponed the bearish attempts
The expect range trading for today it will be between resistance line 1930 level and support line 1916 level .
Additionally : today news will affect the market .
support line : 1916 , 1909
resistance line : 1930 , 1940
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
The prices of the yellow metal were subjected to downward pressure in trading today, Thursday. Which prompted it to decline from its highest levels in several weeks, coinciding with the rise of the US dollar index and US bond yields, despite the US Federal Reserve keeping interest rates at the same levels without change during the policy committee meeting yesterday, but the statements of the bank’s governor, Jerome Powell, reinforced expectations of the possibility Tighten monetary policy in the future to rein in inflation.
Technical abstract :
The price of gold resumes its negative trading and begins to move away from the 1930 level, to support the continuation of the expected downward trend for today, and the way is open to achieving our main awaited target at 1916 and 1909 for today .
Waiting for more bearish bias during the coming sessions, provided it remains below the 1930 level that supported to drop, stabilized above 1930 will postponed the bearish attempts
The expect range trading for today it will be between resistance line 1930 level and support line 1916 level .
Additionally : today news will affect the market .
support line : 1916 , 1909
resistance line : 1930 , 1940
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
GOLD Update
as we expected the price will reach 1916 and already price reached to our first target and on the way to reach the second target .
and now be careful its possible to retest to 1923 again
Trade closed manually
As we expect as long as price trade above 1916 the price will try to retest to 1923 and already price reached to 1923 .if can price stable above 1923 then it will support the price to reach 1930
and under 1923 will reach to 1916 again .
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