GOLD 4H (Still under sell pressure)
GOLD
OUTLOOK
Gold prices stabilized near their lowest levels in one month today, Friday, ignoring US inflation data that missed expectations last month.
This comes in conjunction with the yellow metal remaining on its way to end its worst week in nearly two months, with the US dollar maintaining its strength and the rise in bond yields.
🔴Gold futures settled at $1949 an ounce.
🔴 While spot contracts for gold increased by 0.26% to 1917 dollars an ounce
Currently , as long as price trade under 1922 the price will be under sell pressure to reach 1901 but to confirm the bearish trend should stable under 1912 and then will reach 1901
as for renewing the bullish attack, consolidation above 1931 by 4H will support the price to reach 1943 and 1953
The expect range trade for today is between 1922 and 1912
support line : 1912 , 1901
resistance line : 1922 , 1931
Today news will affect the market
what is your opinion ??
If this post was useful to you , don't forget to like and comment , Thanks ❤️
OUTLOOK
Gold prices stabilized near their lowest levels in one month today, Friday, ignoring US inflation data that missed expectations last month.
This comes in conjunction with the yellow metal remaining on its way to end its worst week in nearly two months, with the US dollar maintaining its strength and the rise in bond yields.
🔴Gold futures settled at $1949 an ounce.
🔴 While spot contracts for gold increased by 0.26% to 1917 dollars an ounce
Currently , as long as price trade under 1922 the price will be under sell pressure to reach 1901 but to confirm the bearish trend should stable under 1912 and then will reach 1901
as for renewing the bullish attack, consolidation above 1931 by 4H will support the price to reach 1943 and 1953
The expect range trade for today is between 1922 and 1912
support line : 1912 , 1901
resistance line : 1922 , 1931
Today news will affect the market
what is your opinion ??
If this post was useful to you , don't forget to like and comment , Thanks ❤️
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