XAU- Gold price today: Gold falls
Gold dropped to around $2,330 per ounce on Thursday due to increasing US Treasury yields and demand for the greenback following hawkish remarks from Fed officials. Fed Atlanta President Bostic expressed uncertainty about reaching 2% inflation and highlighted significant price gains.
Gold moves towards 2350, passing through the lowest bottom of wave 3, but the candlesticks in H4 are leading to a situation where wave 5 is not completed and opens a double bottom pattern. It is easy to break out when the price surpasses the 2361 area
SELL GOLD: 2373 - 2375 , SL: 2379
BUY GOLD: 2317 - 2315, SL: 2311
(scalping)
Breakout & retest:
- Breaking and closing on: 2354 - 2361 - 2374
- Break and close below: 2335 - 2328 - 2315
Support: 2328 - 2316 - 2307 - 2300 - 2290
Resistance: 2350 - 2365 - 2378 - 2384
GOOD LUCK EVERYONE
Gold moves towards 2350, passing through the lowest bottom of wave 3, but the candlesticks in H4 are leading to a situation where wave 5 is not completed and opens a double bottom pattern. It is easy to break out when the price surpasses the 2361 area
SELL GOLD: 2373 - 2375 , SL: 2379
BUY GOLD: 2317 - 2315, SL: 2311
(scalping)
Breakout & retest:
- Breaking and closing on: 2354 - 2361 - 2374
- Break and close below: 2335 - 2328 - 2315
Support: 2328 - 2316 - 2307 - 2300 - 2290
Resistance: 2350 - 2365 - 2378 - 2384
GOOD LUCK EVERYONE
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