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GOLD: What is the price of gold tomorrow?TVC:GOLD Gold prices remain low around $2,000 as it searches for fresh clues to extending its three-week downtrend, especially after posting its first weekly loss in three weeks. In doing so, the yellow metal portrays market anxiety amid concerns about the US debt ceiling, as well as banking concerns. However, the unclear calendar and mixed updates from the Federal Reserve (Fed), as well as US government officials, have pushed XAU/USD lower ahead of important events/data of this week. Gold price depicts a bearish triangle formation on the Daily chart, currently between $2,030 and $2000. That said, bearish signals from the Moving Average Convergence and Divergence (MACD) indicator, as well as the steady Relative Strength Index (RSI), set at 14, also give see the next downtrend in XAU/USD. However, a clear break of the 2000$ support becomes necessary for Gold to move towards its theoretical target of around 1,900$. Canh SELL GOLD vùng giá 2022-2025 Stoploss: 2030 Take profit 1: 2017 Take profit 2: 2012 Take profit 3: 2006
TVC:GOLDShort
by DNA_TradingFX
Game Plan Gold ShortHi all Gold did see some movement since the beginning of 2023, yet in the past days, Gold has been selling off very strongly. Price has retreated into that crucial range of 1825- 1800. This support area needs to hold, if we break 1800, we could see the shiny metal slide all the way down to 1720 or even further. Prices in precious metals have been seeing an uptick in volatility since Powells Testimony on Tuesday. Let's see if this downward pressure continues. Here is my Game Plan for a short scenario: - Price needs to consolidate further in the box (range 1820- 1800) - Steep upwards movements are fine, should not move higher than 1830 - Consolidation on 1800 is of interest to find an entry - Optimally, some flat price movement on 1800 or slightly under it for a relevant amount of time - Clear break of 1800 is needed, seeking entry around 1795 depending on how clean we cut through 1800 1800 is the area of interest in this Game Plan, before we not see some further movement into the 1800 region, I will be staying out of this one as we are sitting on a very strong support for the metal. This will be my plan. If you want to learn more about my market approach, make sure to follow me on Tradingview! Cheers.
FOREXCOM:XAUUSDShort
by TraderCHgold