Gold is in a tug of war
Updated
- Analytical basis:
Today is the first Monday of the week and gold continues to lose nearly 30 USD from 1848 to 1821. Gold's downward streak still shows no signs of stopping.
PMI data released today was better than expected, creating more pressure on gold prices. Additionally, the US Federal Reserve has signaled that it may raise interest rates again before the end of the year, which is seen as a key factor driving the outflow of non-yielding commodities. profit. The latest data does not change the view that the Fed will tighten monetary policy further but it also increases sentiment that the Fed should keep interest rates high for longer.
Show the field expects the FED to keep interest rates in November at more than 70%.
Currently the school is focusing on JOLTS recruitment data published at 9:00 PM WIB. If data continues to exceed expectations, gold will face more adoption. On the other hand, if the data does not match expectations then gold will recover from its previous sharp decline.
- Technical analysis:
Gold continues to decline in the $130 range towards the 1800 target. Currently Gold is in a selling state but still has no reliable buy signal.
Wait until Gold reaches the nearest resistance zone to sell
Today is the first Monday of the week and gold continues to lose nearly 30 USD from 1848 to 1821. Gold's downward streak still shows no signs of stopping.
PMI data released today was better than expected, creating more pressure on gold prices. Additionally, the US Federal Reserve has signaled that it may raise interest rates again before the end of the year, which is seen as a key factor driving the outflow of non-yielding commodities. profit. The latest data does not change the view that the Fed will tighten monetary policy further but it also increases sentiment that the Fed should keep interest rates high for longer.
Show the field expects the FED to keep interest rates in November at more than 70%.
Currently the school is focusing on JOLTS recruitment data published at 9:00 PM WIB. If data continues to exceed expectations, gold will face more adoption. On the other hand, if the data does not match expectations then gold will recover from its previous sharp decline.
- Technical analysis:
Gold continues to decline in the $130 range towards the 1800 target. Currently Gold is in a selling state but still has no reliable buy signal.
Wait until Gold reaches the nearest resistance zone to sell
Note
Specifying golden length adds one more instance to Hi. This is the way to go. The next dispute is expected to take place at the lowest level in 2023 at 1804 USD/troy ounce.Note
SALE scene (short sale): 1825 - 1827SL: 1832
TP1: 1820
TP2: 1815
Trade active
PLAN SELL : Running +30pip ✅✅✅
Related publications
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.