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Gold price today: Will the upward momentum continue?The price of gold (XAU/USD) has taken advantage of its recent upward momentum and reached a new record high around $2,152 on Wednesday. This price increase comes amidst expectations of an upcoming change in the Federal Reserve's policy. Comments from Fed Chair Jerome Powell have reinforced these expectations, indicating that the central bank is likely to lower the benchmark interest rate by the end of this year. However, Fed Minneapolis President Neel Kashkari has tempered speculation of a more aggressive policy easing, providing some support for the US Dollar (USD) and preventing it from dropping to its lowest level since February. As a result, this has limited further gains for gold, especially when considering the excessive price increase on the daily chart. At the same time, any significant adjustments in the price of gold seem unlikely due to the current geopolitical tensions. Furthermore, concerns about China's economic slowdown, as the world's second-largest economy, may continue to support this precious metal. Additionally, investors may exercise caution ahead of Powell's second testimony before the Senate Banking Committee and the release of monthly employment data in the United States.
OANDA:XAUUSDLong
by RKarina
Market Correction or Market Crash? What you expect but soonHello Everyone, I've conducted another analysis, indicating that we might experience a good correction, likely in the 2nd or 3rd week of January 2024. But the question is how far this correction will go? Projected Support Levels: 1st Support: 21,100 2nd Support: 20,250 3rd Support: 19,950 I'm optimistic that the correction will be limited to 21,100, after which we anticipate breaking the Nifty50's lifetime high of 21,834 and progressing towards 23,000. I wish you successful investing and trading. Best regards, Naveen
NSE:NIFTYShort
by NaveenTTR
1
Colpal Double Top Breakdown: Navigating Short PositionsColpal broke the neckline following the formation of a double top , signaling a potential bearish trend. We've initiated short positions based on this pattern. Please note, that the provided chart includes details such as entry points, stop-loss levels, re-test zone, and target levels. However, trading involves risks, and these are speculative predictions. It's crucial to conduct thorough research, consider your risk tolerance, and, if necessary, consult with a financial advisor before making any trading decisions. The market is dynamic, and outcomes may vary. Trade responsibly.
NSE:COLPALShort
by iamrk7
Gold price hangs near two-week low ahead of US CPIThe gold price has recently dropped below the psychological $2,000 mark, indicating a bearish trend after breaking the 61.8% Fibonacci retracement level of the November-December rally at $2,012-2,010. Daily chart oscillators are losing positive momentum, supporting the possibility of further declines. The next potential support level is the 50-day Simple Moving Average (SMA) around $1,965-1,963, followed by the crucial 200-day SMA near $1,951-1,950. A decisive break below the 200-day SMA could extend the recent pullback from the all-time high. On the positive side, the $2,010-2,012 support now acts as an immediate hurdle, with resistance at $2,030 and the $2,040 supply zone. If a golden cross occurs, with the 50-day SMA rising above the 200-day SMA, it could favor bullish traders. In this scenario, a climb to the $2,071-2,072 region and a potential reclaim of the $2,100 level may follow.
OANDA:XAUUSDShort
by tradewith_ritik
BTCUSDT good for short (Bitcoin short position)**************************************************************************************************** **************************************************************************************************** * All the information shared in this chart is provided for strictly educational purposes only. * This chart is sharing information are based on the theory of technical analysis . * This is not an offer to buy or sell stocks, futures , options, commodity, forex, interests or any other trading security. * Back test yourself before jump into live market consult your financial adviser and use proper risk management. ****************************************************************************************************** ****************************************************************************************************** Trade entry : 37685 SL : 37848 Target : 37200 \ 36946 \ 36354 ____________________________________________________________ Visit Us for more details and follow us for more Education Analysis ____________________________________________________________ Trading_Cafe24 Thank you :)
Short
by Trading_Cafe24
Dow jones Look Good for Short* All the information shared in this chart is provided for strictly educational purposes only. * This chart is sharing information are based on the theory of technical analysis . * This is not an offer to buy or sell stocks, futures , options, commodity, forex, interests or any other trading security. * Back test yourself before jump into live market consult your financial adviser and use proper risk management. ------------------------------------------------------------------------------------ Mini Dow jones Level's ------------------------------------------------------------------------------------ SMC Selling area is near 34906 - 34930 And Short Area is 34906 Below this level 34765 free fall will start. ************************** Target down side ******************************** Trade : Sell between 34906 - 34930 SL will be 120-130 Points (35033) Target will be downside : 34680/34599/34483/34400/34311/34225 ____________________________________________________________ Visit Us for more details and follow us for more Education Analysis ____________________________________________________________ Trading_Cafe24 Thank you :)
CBOT_MINI:YM1!Short
by Trading_Cafe24