✍️ NOVA hello everyone, Let's comment on gold price next week from 18-22/9/2023
🔥 World situation:
By the conclusion of the week, there will be a weekly increase in the Gold Spot price, rebounding from previous losses that caused it to reach a low of $1,900 and ultimately closing above $1,920.
Some signs and economic data are showing that the FED continues to raise interest rates to limit inflation. Influencing investors' decisions on the dollar. The opportunity for gold prices to increase slightly will be available next week
🔥 Identify:
Before the last Prelim UoM Consumer Sentiment news this week, gold prices increased after bad news for the US economy, which is a sign that the US economy will suffer more bad news next week.
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, EMA34 - EMA89, NOVA identifies the important key areas as follows:
Resistance: $1931, $1940, $1952
Support : $1914, $1903, $1885
There will be a certain increase next week
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest