Gold's decline has been going on for a long time, and gold has been at 1820 support recently. However, the trend of the US dollar seems to have weakened, but the gold market is still languishing under the influence of interest rate hike talk. Observing the trend chart, we found that it was retested near 1826, and then fell back to around 1822. I think gold is waiting for an upward move in this area. The first upward target is 1830. If it breaks through this area, it will continue to rise and the target is 1835.
The next signal is that the United States will release the number of initial jobless claims for the week to September 30 in 15 minutes, which will be an important signal for gold's rise. Let's wait together.
The next signal is that the United States will release the number of initial jobless claims for the week to September 30 in 15 minutes, which will be an important signal for gold's rise. Let's wait together.
Note
The United States released the number of initial jobless claims for the week of September 30. The data was 0.3 more than the previous value, which means that gold may still not see a sharp rise in the long term. If the gold price does not fall below 1810, it may rebound to near the 1822 support.Trade active
Observing the chart, I found that my prediction was correct, gold did not continue to fall after falling to 1815. It is now slowly climbing and may return to 1822 support.
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.
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.