GOLD cautiously increased, is this a buying opportunity ?
Gold prices are currently at $1,965, a slight increase of $6 from yesterday. If the support level below $1,950 is broken, the precious metal may drop sharply to $1,880.
Last month, gold dropped below $2,000 due to the relatively healthy economic sentiment that continues to support the Fed's positive monetary policy stance. However, in recent weeks, gold has held a key support level around $1,950 due to expectations of a change.
Many analysts and economists have noted that the Fed is getting closer to the end of its tightening cycle.
Last month, gold dropped below $2,000 due to the relatively healthy economic sentiment that continues to support the Fed's positive monetary policy stance. However, in recent weeks, gold has held a key support level around $1,950 due to expectations of a change.
Many analysts and economists have noted that the Fed is getting closer to the end of its tightening cycle.
Comment:
🔴Strategy failed !
✅Buy order in the $1,944-$1,947 price zone when the support zone is approached.
✖️Stoploss: $1,940.
✅Sell the $1,976-$1,973 range when the price hits the resistance area.
✖️Stoploss: $1,980.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!