Gold 25/07 There are many disadvantages ahead.
Gold's outlook is also uncertain as US interest rates are likely to stay higher for longer. The US has not escaped the recession, the fate of the economy is still in the hands of the Fed.
BUY GOLD zone 1945 - 1947
Stop Loss : 1940
Take Profit 1: 1950
Take Profit 2: 1955
Take Profit 3: 1965
Note: Installing TP SL...
Gold prices established a new level of support amid persistent dollar weakness, while copper fell sharply on worries about importers.
The yellow metal traded close to a one-month high, tracking the dollar's slide to 15-month lows after a series of weak U.S. inflation indicators fueled fish stocks. bet that the Federal Reserve is about to hit its highest interest...
Now, the focus is entirely on the minutes of the Fed's June meeting, for any further signals on the direction of US interest rates.
This trend indicates that gold will come under more pressure in the coming months, although expectations of a potential recession in the US have also boosted some safe-haven demand for the yellow metal.
Gold is waiting for a break...
Attached: GDX Daily Chart as of 7th April 2023
Price has given a Classic Cup & Handle Breakout Buy Signal on the Charts
What do Technical Indicators say on the Daily Chart?
- RSI is in overbought zone ( > 70) and confirming a Bullish Regime✅
- MACD is trending up and in buy mode, confirming Momentum✅
- DMI is in buy mode and ADX is above 25, confirming a Strong...
