If gold can break through resistance, bulls will be in control in the near term.
Next target is last week's high of 2,045
and easily reduced
Conversely, the seller could target his $2,015 area, then he could target $2,010, then $2,000. If gold successfully tests these supports, it will extend its decline to its 20-day moving average of $1,985, last week's low of about $1,973, and its 200-day moving average of about $1,956.
After the FOMC meeting in December, the Fed acknowledged that discussions about rate cuts had begun, hinted at the possibility of easing, and then became more optimistic about the outlook for inflation. Next year it will be 75 basis points.
Next target is last week's high of 2,045
and easily reduced
Conversely, the seller could target his $2,015 area, then he could target $2,010, then $2,000. If gold successfully tests these supports, it will extend its decline to its 20-day moving average of $1,985, last week's low of about $1,973, and its 200-day moving average of about $1,956.
After the FOMC meeting in December, the Fed acknowledged that discussions about rate cuts had begun, hinted at the possibility of easing, and then became more optimistic about the outlook for inflation. Next year it will be 75 basis points.
Note
SELL 2040 - 2045TP1: 2030
TP2: 2015
SL: 2060
Note
running +20 pipsNote
HIT TP1 + 150 pips
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Related publications
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.