Bears Seize Control of the Gold MarketSince the onset of January 2nd, 2024, a discernible downtrend channel has shaped the intricate interplay between gold and the US dollar. Delving into the meticulous examination of gold's financial intricacies, my attention is laser-focused on identifying opportune moments for selling as the precious metal nears the trend line this week.
In the event that price encounters resistance within the critical thresholds of 2050 to 2070, a calculated strategy emerges – a potential short position with a downside target of approximately 55 pips, bringing us to an anticipated 2003 level. The overarching strategy hinges on a discernible transformation in the higher time frames, acting as a precursor for potential long positions.
In the strategic forecast, my outlook tends towards a bearish trajectory, unfolding gradually with each nuanced market development. Your active engagement in this financial analysis is pivotal. Appreciate your likes, comments, and shares as we navigate these nuanced market waters. Until the next data point emerges, see you on the analytical flip side! 🔄💹
Xaausdidea
Gold Analysis: Did gold really drop to 1912-10?Dear MsProTrading Members,
Today we will analyze whether gold will drop to 1912–10. First of all, you can get the current price of 1919. We think there may be a little gold drop in 1915–16 and then a pullback in 1925–27. If resistance does not break, we will go back to our final target of 1912–10.