Gold again did not have an hourly close under support from 1933 to 31.
In descending direction:
This support should be broken (1933 to 31) and the market should stay below this area, in this case:
Support 1920 to 18, 1912 to 10, 1902 to 1900, 1892 to 90
In the ascending direction:
The first market must have an hourly or 4-hour stabilization above 1940 to 44 and the return movement or pullback should be weak, i.e. it should not go below 1940. Then:
Resistances 1954 to 56, 1965 to 67, 1970 to 72
Today we have Mr. Powell's speech, which naturally has an impact on the market.
If the emphasis is on contractionary policies, there is a possibility of a drop in the speech time.
Lecture time 17:30
In descending direction:
This support should be broken (1933 to 31) and the market should stay below this area, in this case:
Support 1920 to 18, 1912 to 10, 1902 to 1900, 1892 to 90
In the ascending direction:
The first market must have an hourly or 4-hour stabilization above 1940 to 44 and the return movement or pullback should be weak, i.e. it should not go below 1940. Then:
Resistances 1954 to 56, 1965 to 67, 1970 to 72
Today we have Mr. Powell's speech, which naturally has an impact on the market.
If the emphasis is on contractionary policies, there is a possibility of a drop in the speech time.
Lecture time 17:30
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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.