PLAN GOLD 20/10: WAIT SELL ZONE
💯UPDATE DAILY GOLD PLAN:
👉 Gold prices rose for the third consecutive session on Thursday as rising tensions in the Middle East boosted safe-haven demand. Meanwhile, Fed Chairman Jerome Powell's speech raised hopes that the central bank may pause interest rate increases.
👉 Israel has carried out more air strikes on the Gaza strip, while British Prime Minister Rishi Sunak made a similar move to US President Joe Biden when he made a visit to Israel to show support for the fight against Hamas, at the same time urged Israel to ease the state of siege on the people in the Gaza Strip.
👉 In a speech on October 17, Chairman of the US Federal Reserve (Fed) Jerome Powell left open the possibility of further interest rate increases, although he said that tightening policies had put pressure on inflation and economic activity. . He also emphasized new risks emerging and the Fed needs to be more cautious.
👉 Investors currently forecast a 70% chance that the Fed will not raise interest rates at the December meeting. -> Any data showing a decline in the US economy will further support gold prices. Recession will force the Fed to reduce interest rates, pulling gold to $2,100
👉 Gold has approached the major resistance zone of 1987 - 1990, this area limits buying. If the small frame has a reversal, AE can spread Sell to go long.
📌Today's trading plan:
🔽Gold Sell Zone: 1987 -1989
SL 1994
TP 1963 - 1946 - 1934
🔼Gold Buy zone Scap: 1972 -1970
Sl 1968
TP 1979- 1985
👉 Gold prices rose for the third consecutive session on Thursday as rising tensions in the Middle East boosted safe-haven demand. Meanwhile, Fed Chairman Jerome Powell's speech raised hopes that the central bank may pause interest rate increases.
👉 Israel has carried out more air strikes on the Gaza strip, while British Prime Minister Rishi Sunak made a similar move to US President Joe Biden when he made a visit to Israel to show support for the fight against Hamas, at the same time urged Israel to ease the state of siege on the people in the Gaza Strip.
👉 In a speech on October 17, Chairman of the US Federal Reserve (Fed) Jerome Powell left open the possibility of further interest rate increases, although he said that tightening policies had put pressure on inflation and economic activity. . He also emphasized new risks emerging and the Fed needs to be more cautious.
👉 Investors currently forecast a 70% chance that the Fed will not raise interest rates at the December meeting. -> Any data showing a decline in the US economy will further support gold prices. Recession will force the Fed to reduce interest rates, pulling gold to $2,100
👉 Gold has approached the major resistance zone of 1987 - 1990, this area limits buying. If the small frame has a reversal, AE can spread Sell to go long.
📌Today's trading plan:
🔽Gold Sell Zone: 1987 -1989
SL 1994
TP 1963 - 1946 - 1934
🔼Gold Buy zone Scap: 1972 -1970
Sl 1968
TP 1979- 1985
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